GSTR-1 due date for montlhy filers since its inception

Discover the GSTR-1 due dates for monthly filers since its inception in July 2017. Ensure compliance with Goods and Services Tax (GST) regulations in India by filing GSTR-1 on time. Get insights into the importance of GSTR-1, its components, and the repercussions of non-compliance. Stay updated on the latest due dates to avoid penalties and streamline your GST filing process.

GSTR-1 is a crucial component of the Goods and Services Tax (GST) system in India. GST is a comprehensive indirect tax levied on the supply of goods and services, introduced in India on July 1, 2017. GSTR-1 is one of the various GST return forms that businesses are required to file regularly to report their sales or outward supplies of goods and services. GSTR-1 is used to provide details about the outward supplies made by a registered taxpayer during a specific tax period. It includes information such as:

1. Details of sales invoices issued to other registered taxpayers.

2. Details of credit and debit notes issued during the period.

3. Details of exports and supplies to Special Economic Zones (SEZs).

4. Details of advances received against future supplies.

5. Etc

Filing GSTR-1 is important for several reasons:

1. Input Tax Credit Matching: The information provided in GSTR-1 is used by the government to match the sales details of the supplier with the purchase details of the recipient, ensuring that the input tax credit claims are accurate and valid.

2. Compliance: GSTR-1 is a way for businesses to comply with the GST law by reporting their outward supplies accurately. Non-compliance can lead to penalties and legal issues.

3. Data for Other Returns: The data from GSTR-1 is used to populate other GST returns, such as GSTR-2b.

4. Transparency and Accountability: GSTR-1 promotes transparency in the taxation system by requiring businesses to report their transactions, which helps prevent tax evasion.

GSTR-1 needs to be filed on a regular basis, typically on a monthly or quarterly basis, depending on the turnover of the business. The due date for filing GSTR-1 varies based on the frequency of filing and the turnover of the taxpayer.

Below mentioned are due date for Monthly GSTR-1 filers:-