GSTR-1 - Format, Due Date, Late Fee

GSTR-1 is the statement of outward supplies of goods or/and services supplied by a registered taxpayer during the return period. A taxpayer registered under the normal scheme must file GST Return on the GST Portal. The taxpayer should file GSTR-1 on a monthly or quarterly basis depending upon the turnover of his business.

Index

GSTR-1 Format

This GST Return comprises of the following information and details:

• GSTIN i.e. GST Identification Number of the taxpayer
• Legal Name of the business
• Aggregate Turnover of the business in the previous financial year
• Return period i.e. the month or quarter for which the return is filed
• B2B Sales – Sales made to registered taxpayers holding a valid GSTIN
• B2C Large
  • Interstate sales made to unregistered persons for an invoice value exceeding Rs.2.5 lacs
• B2C Others
  • Intrastate sales made to unregistered persons irrespective of the invoice value
  • Interstate sales made to unregistered persons for an invoice value up to Rs.2.5 lacs
• Amendments to Sales – The taxpayer should report details of any changes in the sales invoices in the return of earlier tax period under B2B Amendments, B2C Large Amendments and B2C Others Amendments
• Credit Note / Debit Note – Notes issued for a revision in the value of invoice or revision in the amount of tax or sales return must be reported under this section
• Amendments to Notes –  details of amendments made to the credit notes or debit notes reported in the return of earlier tax period
• Nil-Rated, Non-GST and Exempt supplies
• Exports – Sales made to persons outside India including Deemed Exports and SEZ Supplies
• Amendments to Exports – details of amendments made to the exports reported in the return of earlier tax period
• HSN Summary – summary of sales of goods and services categorised on basis of HSN or SAC Codes
• Document Summary – summary of invoices, notes, delivery challan etc issued and cancelled during the return period

GSTR 1 Filing for Regular Dealer

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GSTR 1 Filing for Regular Dealer

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Who should file GSTR-1?

All the traders registered under the regular scheme of GST registration should file GSTR-1. Further, the filing frequency is based on business turnover:

1. File Monthly – If the aggregate turnover in the preceding financial year or the expected aggregate turnover in the current financial year exceeds Rs.1.5 Cr.
2. File Quarterly – If the aggregate turnover in the preceding financial year or the expected aggregate turnover in the current financial year is up to Rs.1.5 Cr.

The following persons need to opt for a special registration and thus cannot file GSTR-1:

1. Persons registered under the Composition Scheme (GSTR-4)
2. Non-Resident Taxpayers (GSTR-5)
3. OIDAR Service Provider (GSTR-5A)
4. TDS Deductor (GSTR-7)
5. E-Commerce Operator (GSTR-8)
6. Input Service Distributors (GSTR-6)

GSTR-1 Due Date

All the regular traders under GST must file GSTR-3B (summary return) and GSTR-1 (statement of outward supplies). While the taxpayer should file GSTR-3B every month, he should file GSTR-1 either monthly or quarterly.

Annual turnover more than INR 1.5 Crore

If the annual turnover is more than INR 1.5 Crore, then GSTR 1 should be filed on a monthly basis:

The due dates from April 2021 tax periods for GSTR-1 and GSTR-3B is yet to be notified by the CBIC, as on 31st March 2021

Tip

The due dates from April 2021 tax periods for GSTR-1 and GSTR-3B is yet to be notified by the CBIC, as on 31st March 2021

Annual turnover less than INR 1.5 Crore

If the annual turnover is less than INR 1.5 Crore, then GSTR 1 should be filed on a quarterly basis.

The due dates from April 2021 tax periods for GSTR-1 and GSTR-3B is yet to be notified by the CBIC, as on 31st March 2021

Tip

The due dates from April 2021 tax periods for GSTR-1 and GSTR-3B is yet to be notified by the CBIC, as on 31st March 2021

Late Fee for GSTR-1

If the taxpayer does not file GSTR-1 on or before the due date, he is liable to pay a Late Fee for each day of delay.

• If there are no transactions in the return period, the taxpayer should file a NIL Return to avoid late fee and penalty
• Late fee is calculated from the date after the due date up to the date of filing of the return
• Late fee is payable while filing GSTR-3B of the next return period
• As per the Act, a late fee of Rs.200 (CGST Rs.100 and SGST Rs.100) per day of delay was imposed. It was later reduced to:

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