GSTR 1- Filing, Format and Due Dates
As per the guidelines set by the GST Council, a registered taxable person is to follow a standard return filing process, involving 3 forms – outward supplies details in GSTR 1 form by 10th of the following month, corrections (if any) in GSTR 2 form by the 15th and finally the auto-populated GSTR 3 form for final submission and payment, by the 20th.
Based on the latest recommendations, the due dates for GSTR-1 have been specified, based on the turnover. While businesses with turnover of up to INR 1.5 crore will file quarterly returns, other businesses with turnover of above INR 1.5 crore have to file monthly returns.
Here are the due dates for the return until March 2018:
For Turnover up to INR 1.5 Crore
Form GSTR-1 will need to be filed quarterly as follows:
- July to September 2017 – 31st December, 2017
- October to December 2017 – 15th February, 2018
- January to March – 30th April, 2018
For Turnover over INR 1.5 Crore
Form GSTR-1 will need to be filed monthly as follows:
- July to October 2017 – 31st December, 2017 (for all 4 months)
- November 2017 – 10th January, 2018
- December 2017 – 10th February, 2018
- January 2018 – 10th March, 2018
- February 2018 – 10th April, 2018
- March 2018 – 10th May, 2018
What is GSTR-1 Form?
Form GSTR-1 is a statement in which a regular dealer needs to capture all the outward supplies made during the month. Broadly, the GSTR 1 format requires - all the outward supplies made to registered businesses (B2B) to be captured at invoice level, and supplies made to unregistered business or end consumers to be captured at rate-wise level. However, in certain exceptional scenarios, even B2C transactions are required to be captured at invoice level.
How to file GSTR-1 Form?
Form GSTR-1 contains 13 tables in which the outward supplies details needs to be captured. Based on the nature of business and the nature of supplies effected during the month, only the relevant tables are applicable, not all. The GSTR-1 format is as follows:
- Table 1, 2 & 3: Details of GSTIN and aggregate turnover in preceding year.
- Table 4: Taxable outward supplies made to registered persons (including UIN-holders) other than Zero rated supplies and Deemed Exports.
- Table 5: Taxable outward inter-State supplies to un-registered persons where the invoice value is more than INR 2.5 Lakh.
- Table 6: Details of Zero rate supplies and Deemed Exports.
- Table 7: Details of Taxable supplies (Net of debit notes and credit notes) to unregistered persons other than the supplies covered in Table 5.
- Table 8: Details of Nil rated, exempted and non GST outward supplies.
- Table 9: Details of debit notes, credit notes, refund vouchers issued during current period and any amendments to taxable outward supply details furnished in the GSTR1 returns for earlier tax periods in Table 4, 5 & 6.
- Table 10: Details of debit note and credit note issued to unregistered person.
- Table 11: Details of Advances Received/Advance adjusted in the current tax period or Amendments of information furnished in earlier tax period.
- Table 12: HSN-wise summary of outward supplies.
- Table 13: Documents issued during the tax period.
Click here to view the tables and understand the GSTR 1 format.
When can one start filing GSTR 1 Form?
As a step towards early preparation and to ease the GSTR1 returns filing, the option for creation and saving of Form GSTR-1 are available on the GST portal from 24th July, 2017.
Broadly, details required to be captured in the GSTR-1 format are either invoice-wise, rate-wise, or state-wise details of outward supplies made during the month. If the GSTR 1 returns are not filed in time, it will have an impact on the creditability of one's business. Subsequently, it will also impact one's customers since ITC depends on supplier compliance.