You may aware that, govt. had given some relaxation to the taxpayers regarding filling GSTR 1 up to Sept 2017. As we all are very much into the new regime & trying to address daily issues coming up under GST, we may forget to completely understand what GSTR-1 requires. So before that, it is better to grasp the GSTR -1 which is actually the backbone of GST (flowing credit from the supplier to the recipient, rest all are auto-populated as claimed by our revenue secretary). So here is an article to let you know the basic of GSTR-1 in a simple language. Sit back, relax & enjoy the write up!
GSTR -1 consists of total 13 tables, which are to be endorsed by the “Authorised signatory”. So one by one will see which table deals with what. Author’s personal views are also expressed wherever one needs to take care or wherever some amount of confusion is there, below the decoding of each tables:-
So let’s start with, Table 1, 2 3:
These tables are not bummer, it is simple as per the below table:-
|2.||(a)||Legal name of the registered person|
|(b)||Trade name, if any|
|3.||(a)||Aggregate Turnover in the preceding Financial Year|
|(b)||Aggregate Turnover – April to June, 2017|
Table 4: Taxable outward supplies made to registered persons (including UIN-holders) other than supplies covered by Table 6 [B2B]
It means, in this table assesse needs to fill the following details:-
Zero rated supply will not come in this table.
Table 5: Taxable outward inter-State supplies to un-registered persons where the invoice value is more than Rs 2.5 lakh [B2C]
In this table, following details needs to be filled up:-
1. Outward supplies other than supplies made through e-commerce operator, rate wise
2. Supplies made through e-commerce operator attracting TCS (operator wise, rate wise) with the GSTIN of E commerce operator.
Following supplies will not come in this table:-
Table 6: Zero-rated supplies and Deemed Exports:
Essentially this table entails to feed the details of :-
Following issues needs to keep in mind:-
Table 7: Taxable supplies Net of debit notes and credit notes) to unregistered persons other than the supplies covered in Table 5: [B2C]
You need to provide
Table 8: Nil rated, exempted and non-GST outward supplies:
Following details needs to be mentioned as per this table:-
|SL No.||Description||Nil Rated Supplies||Exempted (Other than Nil rated/non-GST supply)||Non-GST supplies|
|1||Inter-State supplies to registered persons|
|2||Intra- State supplies to registered persons|
|3||Inter-State supplies to unregistered persons|
|4||Intra-State supplies to unregistered persons|
Table 9. Amendments to taxable outward supply details furnished in returns for earlier tax periods in Table 4, 5 and 6 [including debit notes, credit notes, refund vouchers issued during current period and amendments thereof]:
In GST there is no concept of revised return. But human error, business needs can’t be ignored. So table 9 provides the option to amend details provided in earlier periods. One needs to provide these details in table 9:-
Table 10: Amendments to taxable outward supplies to unregistered persons furnished in returns for earlier tax periods in Table 7:-
Here, person needs to mention the period for which amendment is required of the data provided in table 7 which are:-
Table 11. Consolidated Statement of Advances Received/Advance adjusted in the current tax period/ Amendments of information furnished in earlier tax period:
As per the GST Act, it is understood that GST is required to be paid even on advance amount received from customer. Table No. 11 deals with the data to be provided for the advance received like,
1. Intra state supplies (rate wise)
2. Inter state supplies (rate wise)
1. Intra state supplies (rate wise)
2. Inter-state supplies (rate wise)
Table 12. HSN-wise summary of outward supplies:
In this section, HSN wise details to be provided w.r.t. quantity, value IGST, CGST/SGST/ UTGST/Cess etc.
Table 13. Documents issued during the tax period:-
|Nature of document||Sr. No.||Total number||Cancelled||Net issued|
|1||Invoices for outward supply|
|2||Invoices for inward supply from unregistered person|
|9||Delivery Challan for job work|
|10||Delivery Challan for supply on approval|
|11||Delivery Challan in case of liquid gas|
|12||Delivery Challan in cases other than by way of supply (excluding at S no. 9 to 11)|
Following all the tables one need to provide this declaration:
I hereby solemnly affirm and declare that the information given herein above is true and correct to the best of my knowledge and belief and nothing has been concealed there from and in case of any reduction in output tax liability the benefit thereof has been/will be passed on to the recipient of supply.
Name of Authorised Signatory
Author Pralay Chakraborty is a GST Professional & can be reached at 9705941371, email@example.com . Feedbacks are welcome!
Disclaimer: The contents of this document are solely for informational purpose. It does not constitute professional advice or a formal recommendation. While due care has been taken in preparing the document, the existence of mistakes & omissions herein are not ruled out. The author does not accept any liabilities for any loss or damage of any kind arising out of any inaccurate or incomplete information in this document nor for any actions taken in reliance thereon. No part of this document should be distributed or copied without express written permission of the author.
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018