Why do we need to file GSTR-1 under GST RETURN?
Hemlata Khandenwal / 2020-03-21 03:42:13


Every person knows about GST in the present time or every registered person is liable to file GST return. The tax which we add at the time of sale and the tax, we gave at the time of purchase. The detail of both purchases and sales should be shown at the time of Return.

All about GSTR-1

  • Under the GST Act, it is necessary to file Form GSTR-1 within 10 days of the end of the month by the registered logo, under which details of all the goods and services supplied are filled by the GST Register Person (Outward Supplies).
  • But, if your turnover is less than 1.5 crore, then you can take the option to file GSTR 1 Quarterly. In case of turnover less than 1.5 crores, GSTR 1 has to be filed within 10 days after the end of the quarter.
  • Outward supplies consist of the details of invoices, debit notes; credit notes issued by the supplier and revised invoices.
  • Input service distributor, Non-Resident, the registered person in the composition scheme, for deducting TDS and E-commerce operator who is Liable to collect TCS, do not have to file GSTR-1. That is, they have been exempted from filing GSTR-1.

GSTR -1 is filed electronically.

  • After receiving, modifying, addition, deletion of the details from the recipient, the details are received by the supplier in Form GSTR - 1A, which can be accepted or rejected by the supplier. After acceptance and rejection by the supplier, the GSTR-1 previously filled by him is also amended.

  • Details of GSTR-1A should be accepted and rejected by the supplier after 15 days but before 17 days.

  • On filing GSTR 1 after DUE DATE, a penalty has been provided in the GST Act, which will be levied at Rs 20 per day (in case of NIL RETURN) and RS 50 per day (in case other than NIL RETURN).
  • The details of Outward supplies are filled by the supplier in GSTR-1 and the recipient of Goods and Services in the detail form GSTR-2A (Normal Scheme), GSTR-4A (Composition Scheme), GSTR-6A (Input Service Distributor) Receives. The details received by the recipient can be modified, added, deletion by him.

If you need any help on the GST Registration feel free to contact us +91 8766393412, Our Business adviser will clear your doubt.

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