As we all know there are many compliances in GST law which has to be followed by the taxpayers registered under the GST. So, From one them there is a compliance of filing of GSTR-1.
Before start filing we have to develop an understanding what is GSTR -1? whom is required to file ? when the filing of GSTR-1 is required? What are the contents of GSTR-1 ? These are such questions which are to required to answer.
So let’s Start from the basic of GSTR-1
Page Contents
What is GSTR-1?
Basically GSTR-1 is the form in which details of outward supplies are mentioned which has made by the supplier during a particular period.
Whom is required to file GSTR-1 ?
A person who is registered under GST as Regular taxpayer and including a casual taxable person.
When the filing of GSTR-1 is required?
Whenever any person who register himself as regular taxpayer or a casual taxable person whether he has made any outward supplier or not during the particular period he has required to file GSTR-1 because there is no such provisions that persons who were not making supplies are not required to file GSTR-1 because a NIL GSTR-1 is also required to file by the registered person. So in that scenario person cannot escape from the filing of GSTR-1 by mere explanation that he has no outward supplies during a particular period.
What are the contents of GSTR-1?
Basic And other details
GSTIN, legal name, Trade name, Aggregate turnover in previous year if any, HSN-wise summary of outward supplies, Documents issued during that tax period.
Details of outward supplies
B2B supplies including UIN, B2B supplies under reverse charge, B2CL, SEZ, Exports, Deemed Exports, B2CS, details of credit note debit note issued, Amendments made any advance paid, zero rated, nil rated, exempted supplies etc.
These are the details which is required to mentioned in the GSTR-1 form in the table format. The table start from 4A to 13 in each particular table the above mentioned details are put up while working on it.
What is due date of filing of GSTR-1?
There are two dates 11th and 13th of succeeding month for which return is gonna be file.
E.G: Suppose return of April month is going to file so in that case the last date of filing of return for the month of April is 11th may.
But there is some persons who has avail the benefits of QRMP schemes so he has require to file return quarterly so in that situation, assume he has going to file return for the tax period Apr-June so the due date for this is 13th July.
Filing Nil Return:
Even if no outward supplies are made, a nil return must be filed. This can be done conveniently through SMS via mobile.
Conclusion: GSTR-1 compliance is a vital aspect of the GST framework. By understanding who needs to file, when to file, and the detailed contents, businesses can navigate the process seamlessly. Stay informed and meet your GST obligations effortlessly.
Author Bio
