For regular taxpayers, the Goods and Services Tax Return 1 (GSTR 1) form is a return form. Taxpayers who cross a
turnover of more than 1.5 crores annually have to file details of outward supplies on the 11th of the next month. Such
taxpayers have to file quarterly returns, according to the rules and regulations. For filing GSTR 1, every registered
taxpayer shall submit the complete sales details i.e. outward supplies in the GSTR-1 form. These details should be
submitted within 11 days from the end of the succeeding month for regular taxpayers.
GSTR 1 filing online must done on the 13th of the consecutive month in the succeeding quarter. In case registered
taxpayers have witnessed no sales or supplies during the month or the quarter, they will be filing nil GSTR1 or GSTR-3B
to avoid a late fee of Rs 500 (Rs.250CGST + Rs.250SGST). However, the return does not apply to composition vendors,
those with Unique Identification Numbers, and non-resident foreign taxpayers.
Prerequisites
The following prerequisites are a must for taxpayers to file GSTR-1;
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- GSTR1 filing can be done only if the registered taxpayer has a 15-digit PAN-based GSTIN under the GST regime.
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- Taxpayers must keep detailed invoices with unique serial numbers for all transactions ready before filing GSTR1 online
quarterly. This includes intra-state and inter-state transactions, business-to-business (B2B), and Business-to-customer
sales. Transactions associated with nil-rated exempted and non-GST outward supplies and stock transfers between
different business locations beyond the state are also included in the ambit of this return.
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- Registered taxpayers will need an OTP that is received on the registered phone to verify using EVC or a digital
signature. Taxpayers can also use Aadhar-based e-sign here.
Interest On Late Payments
According to the GST Council, every late payment of taxes will attract an annual interest of 18 percent of the GST tax.
This is applicable just after the commencement of the due date and is valid till the taxes are paid to the government.
The rules and regulations calculate the interest in case certain taxpayers drop any of the deadlines for the GST tax
payment. If Rs. 1000 is assumed as the tax payment, an interest of 18 percent will be calculated on every single delay
from the due date. In this case, interest will amount to 1000*18/100*1/365 i.e. Rs. 0.49 per day.
However, in case a taxpayer faces GSTR1 filing issues and is not able to file their return within specified due dates,
the taxpayer is obliged to pay a late fee of Rs. 50 daily.
Harmonised System of Nomenclature
While first filing GSTR1 online, the assessee will have to mention the aggregate turnover of the previous tax period. It
is crucial to note here that this data should not be auto-populated from the next returns.
Any person with less than 1.5 crores of aggregate turnover is required to provide HSN codes and SAC. For B2B supplies,
specific details of invoices have to be uploaded. In the case of B2C supplies, only invoices worth more than Rs. 2.5
lakhs in outward inter-state supplies have to be mentioned.
Taxpayers will have to produce 12 HSN wise summary of outward supplies calculated by adding supplies made to the
registered businesses and supplies made to consumers. Here, supplies made to registered businesses include credit notes,
debit notes, and refund vouchers created for registered business customers, and supplies made to consumers include
credit notes, debit notes, and refund vouchers created for consumers.
Procedure For Filing GSTR1 In Detailed Format
Filing Methods
There are three ways to file GSTR1:
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- Online entry through the GST portal
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- Uploading data using the offline portal (recommended for businesses with numerous invoices)
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- Using third-party applications like authorized GST Suvidha Providers (GSPs)
Step-By-Step Guide
The GSTR1 file return step-by-step guide includes a total of 13 sections. Although not all sections are mandatory, some
will be prefilled. Here is a step-by-step guide for GSTR1 filing online.
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- As soon as taxpayers reach the GST portal, they will first need to log in using their credentials.
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- Next, they can go to services and click on Returns and Returns Dashboard.
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- While selecting the filing period, taxpayers will have to choose the financial year, quarter, and month for which they
are filing GSTR1.
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- Now click on 'Prepare Online' in the GSTR-1 tile and enter the details as prompted.
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- The details required are:
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~ B2B Supplies: Taxpayers can add details of taxable outward supplies to registered businesses within the state.
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~ B2C Supplies: These details will include sales to unregistered individuals or consumers within the state.
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~ Credit Debit Notes: Details of any debit or credit notes issued or received for earlier tax period must be mentioned.
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~ Amendments: This section can be used to rectify any errors in previously filed GSTR1.
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~ B2C others: This section will have details of supplies made to unregistered consumers outside the state.
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~ HSN Summary: This section is auto-populated based on the HSN codes mentioned in invoices.
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- Once the details are entered, taxpayers can click on 'Generate GSTR-1 Summary' to validate the data consistency and
preview to review the final return before submission.
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- Further, taxpayers choose either File with DSC or File with EVC.
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- Once the GSTR-1 is successfully filed, taxpayers shall receive an Acknowledgement Receipt Number (ARN) confirming the
return submission.
Additional Consideration
These steps can ensure smooth and compliant filing of GSTR1 while avoiding penalties. It is advised that taxpayers
maintain accurate records and file revisions or corrections within the prescribed time limit. However, to ensure
smoother GST compliance do not hesitate to seek professional advice and answer specific questions regarding tax
situation.
FAQs
What is the limit for filing GSTR 1?
The limit for returns filing for GST GSTR1 for regular taxpayers who have to file details of outward supplies on the
11th of the next month is Rs. 1.5 crores. This means those who cross a turnover of 1.5 crores annually have to fill out
the GSTR1 form. Taxpayers under this threshold limit have to file quarterly returns.
How do I file GSTR1 monthly?
For filing GSTR 1, every registered taxpayer shall submit the complete sales details i.e. outward supplies in the GSTR-1
form. These details should be submitted within 11 days from the end of the succeeding month for regular taxpayers. GSTR
1 filing online must done on the 13th of the consecutive month in the succeeding quarter.
Is GSTR1 monthly or Quarterly limit?
In case taxpayers opt for the QRMP scheme, both Form GSTR1 and GSTR 3B will be required to be filed at a quarterly
frequency. Despite this, the payments for tax dues will have to be made monthly through a challan.
Who is eligible for monthly GSTR return?
Businesses with an annual turnover of more than Rs. 5 crores in the previous financial year are eligible to file monthly
returns. This means the filing frequency is once a month or 12 times a year.
