GSTR-1
GSTR-1 is a GST return form used by registered taxpayers to report their outward supplies of goods or services during a specific period. It ensures accurate reporting and allows buyers to claim Input Tax Credit (ITC) based on the supplier’s filing. Filing GSTR-1 is essential for maintaining compliance with GST regulations.
What is GSTR-1?
GSTR-1 is a monthly or quarterly GST return that registered taxpayers must file to report their outward supplies of goods or services. It includes details like invoices, debit/credit notes, and exports, ensuring accurate tax collection and input tax credits for buyers.
Who Should File GSTR-1?
- Regular Taxpayers: Businesses registered under GST, except those in the composition scheme.
- Turnover Criteria:
- Monthly Filing: Taxpayers with turnover exceeding ₹5 crore.
- Quarterly Filing: Taxpayers under the QRMP scheme with turnover up to ₹5 crore.
Key Features of GSTR-1
- Who Files It: Registered GST taxpayers except composition scheme holders and input service distributors (ISDs).
- Frequency:
- Monthly for taxpayers with turnover above ₹5 crore.
- Quarterly for those below ₹5 crore (under QRMP scheme).
- Due Date:
- 11th of the following month (monthly filers).
- 13th of the month following the quarter (quarterly filers).
Details to Include in GSTR-1
| Section | Details |
|---|---|
| B2B Supplies | Invoice-wise details of supplies to registered taxpayers. |
| B2C Large Supplies | Invoice details for unregistered consumers (₹2.5 lakh and above). |
| B2C Small Supplies | Consolidated data for smaller transactions with unregistered consumers. |
| Exports | Details of exports and deemed exports. |
| Debit/Credit Notes | Adjustments made using debit and credit notes. |
Due Dates for Filing GSTR-1
| Filing Frequency | Period | Due Date |
|---|---|---|
| Monthly | Every Month | 11th of the following month |
| Quarterly (QRMP Scheme) | Every Quarter | 13th of the month after the quarter |
How to File GSTR-1
- Log in: Access the GST Portal (gst.gov.in).
- Select Period: Navigate to the “Returns Dashboard” and choose the period.
- Enter Details: Upload invoice data, including B2B, B2C, exports, and debit/credit notes.
- Submit and File: Validate entries and complete filing with DSC or EVC.
Penalties for Non-Filing
Late filing attracts a penalty of ₹50/day (₹20/day for nil returns) up to ₹10,000. Filing on time avoids penalties and ensures smooth input tax credit claims for buyers.
FAQ on GSTR-1
1. What is GSTR-1?
GSTR-1 is a GST return form used by registered taxpayers to report their outward supplies of goods or services during a specific period.
2. Who needs to file GSTR-1?
All registered taxpayers, except those under the composition scheme, must file GSTR-1.
3. What is the due date for filing GSTR-1?
- Monthly Filing: By the 11th of the following month.
- Quarterly Filing (QRMP): By the 13th of the month after the quarter.
4. What happens if GSTR-1 is not filed?
Late filing incurs a penalty of ₹50/day (₹20/day for nil returns), capped at ₹10,000.
5. Can GSTR-1 be revised?
No, once filed, GSTR-1 cannot be revised. Corrections must be made in subsequent returns.
