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.
With the government interested to bring in a smooth transition to GST, the return filing dates are slightly different for the first two months of July and August. While one can file an interim return in GSTR 3B for the months of July and August, one will need to ultimately file detailed returns via all 3 forms, as per the following revised return filing last dates -
|Revised Return Filing Due Dates|
|July, 2017||1st-5th September, 2017||6th-10th September, 2017||11th -15th September, 2017|
|August, 2017||16th-20th September, 2017||21st-25th September, 2017||26th-30th September, 2017|
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.
What is GSTR 1A Form?
The corrections (addition, modification and deletion) by the recipient in Form GSTR-2 will be made available to supplier in Form GSTR-1A. The supplier has to accept or reject the adjustments made by the recipient. The Form GSTR-1 will be amended according to the extent of correction accepted by supplier.
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.