START FILING FORM GSTR-1 FROM TODAY, TIPS FOR FILING

The due date for filing Form GSTR-1 for the month of July is September 5, 2017 (from 01.09.2017 to 05.09.2017). In this write-up, all about Form GSTR-1 is being discussed.

Introduction

Form GSTR-1 is a monthly statement filed by outward supplier. It is a statement that contains details of all the sales transactions.

Associated Sections/Rules:

– Section 37 of CGST Act, 2017

– Rule 59 of CGST Rules, 2017

Ques. Who are not required to file??

Ans. Following categories are not required to furnish Form GSTR-1:

Categories Required form to be filed
Composite Dealer GSTR-4
Non- resident Foreign taxable person GSTR-5
Online information and database and access retrieval service provider GSTR-5A
Input Service Distributor (ISD) GSTR-6
Tax Deducted at source (TDS) GSTR-7
E- commerce operators deducting TCS GSTR-8
Only Normal and Casual taxpayers are required to file Form GSTR-1.

Ques. Do we also require to file Form GSTR-1, in case when there is no business??

Ans. Form GSTR-1 is required to be filed even if there is no business in a particular tax period.

‘Nil Return’ can also be filed.

Ques. What are the different modes of filing??

Ans. Following are the different modes of filing Form GSTR-1:

1. Online entry in GST portal,

2. Uploading of invoice by using offline tool, &

3. Using third party application of application software providers (ASPs) through GST suvidha providers (GSPs)

Ques. What are the information to be given in GSTR-1??

Ans. Following are the information required to be furnished:

– Invoice level details of supplies to registered persons including those having UIN.

– Invoice level details of Inter- State supplies of invoice value greater than equal to INR 2,50,000 to unregistered persons (consumers)

– Details of Credit/ Debit notes issued by the supplier against invoices

– Details of export of goods and services including deemed exports (SEZ)

– Summarized Stat level details of supplies to unregistered persons (consumers)

– Summary details of Advances received in relation to future supply and their adjustment

– Details of any amendments effected to the reported information for either of the above categories

– Nil rated, exempted and non GST supplies

– HSN/ SAC wise summary of outward supplies

Ques. What are the conditions for filing GSTR-??

Ans. Following conditions are to be satisfied before filing Form GSTR-1:

– Taxpayer should be registered taxpayer and should have an active GSTIN during the tax period for which GSTR-1 has to be furnished

– Taxpayer should have valid credentials to login into GST portal

– The taxpayer should have an active and non-expired/ revoked digital signature (DSC), in case the digital signature is mandatory (in case of all public & Private limited Companies, LLPs & Foreign LLPs).

– DSC should be class II or class III, PAN based DSC

– EM signer version 2.6

– In case taxpayer wants to use EVC, they must have access to the registered mobile number of the primary authorized Signatory.

Ques. What are the steps for filing Form GSTR-1??

Ans. Steps for filing GSTR-1:

1. Go to https://services.gst.gov.in/services/auth/dashboard , by using credentials.

2. Then Go to Services> Returns> Returns Dashboard

3. Financial Year is auto-populated, enter Return Filing Period i.e. July

4. Now there will be two options, either ‘Prepare Online’ or ‘Prepare Offline’

5. It contains two parts:

a. Invoice Details

b. Other Details

6. Now start filing every boxes one after one

Tips for filing Form GSTR-1:

Invoice value

– The ‘Total invoice Value’ column in GSTR-1 is for the invoice value inclusive of taxes.

– Taxable value is the value as per the provisions of GST Law. There will be no validation that the invoice value is equivalent to taxable value plus the tax amount.

Advances in GSTR-1

– Supplier is liable to pay tax on advances received for the supply of goods and services and report the consolidated advance received details in month in which payment is received.

– The amount of advances to be reported in GSTR-1 is net of the amount of which invoices have already been issued and the value reported in the same return in other sections.

– The taxpayer has to declare the advance that has to be adjusted in the tax period in which advance is received.

– Subsequently when invoice is issued, then taxpayer can adjust the tax liability of the invoice issued of that tax period, in the GSTR-1 of that period.

– This can be shown in the advance adjustment table of GSTR-1

Exports in GSTR-1

– Exports are generally treated as Zero rated Inter- State supplies.

– In case of exports, the taxpayer has the option to export without payment of any integrated tax and claim refund of ITC (against the exports made) or the taxpayer may pay IGST and claim refund of the IGST amount paid (post affecting the exports)

– A taxpayer can furnish details of the export invoices in GSTR-1 and file the return without mentioning the shipping bill number and date, if the shipping bill details are not readily available with him.

– If the shipping bill details are received by the taxpayer after the filing of GSTR-1, he needs to declare it in the GSTR-1 of the month in which he receives it through the amendment section of GSTR-1

E-commerce supply in GSTR-1

– The return provides for the declaration of the details of all taxable supplies effected through E- commerce along with the GSTIN of the e-commerce portal in GSTR-1.

– It should be reported in a consolidated manner in the nil rated and exempt supply section of the GSTR-1.

Reverse charge in GSTR-1

– The recipient of goods and services is liable to pay tax under reverse charge mechanism, if the said goods or services are notified to be subject to Reverse Charge and if they are received from unregistered persons by the recipients and its value is more than specified threshold of Rs. 5000 per day.

– All the purchases from unregistered person, which are subject to reverse charge, for which the recipients issues a tax invoice are to be reported in GSTR-2 (not in GSTR-1)

Invoice upload in GSTR-1

– Taxpayers can upload invoice details any time during the tax period and not just at the time of filing of GSTR-1.

– Taxpayers can modify/ delete invoices any number of times till they submit the GSTR-1 of that particular tax period.

– The uploaded invoice details are in draft version, and can be changed irrespective of due date until the GSTR-1 is submitted.

– For a particular GSTIN, there cannot be duplicate invoice series in a particular financial year.

– The invoice number has to be of max length of 16 characters and the allowable characters are alphanumeric and special characters of dash and slash.

Opting for composition & GSTR-1

– In case where a taxpayer opts for composition scheme, GSTR-1 will be available for filing only for the period during which the taxpayer was registered as normal taxpayer.

Submission of GSTR-1

– ARN will be generated on successful filing of GSTR-1

– An SMS & email is also sent to the taxpayer on the mobile number & E mail ID of his primary authorized signatory.

Ques. What if taxpayer fails to file GSTR-1 by due date??

Ans. Taxpayer will receive a system generated return defaulter notice in format 3A if he fails to file GSTR-1 by due date.

Ques. Can Form GSTR- 1 can be revised once filed??

Ans. Once GSTR-1 is submitted, it cannot be revised. The successful submission freezes the GSTR- 1 and no changes can be made by taxpayer thereafter.

Hope this information will help you in your Professional endeavors. For further assistance/query, feel free to write to us.

Author: C S Ekta Maheshwari is the Author of this article and is Company Secretary by profession. The Author can be reached at csektamaheshwari14@gmail.com

Disclaimer:

The entire contents of this article is solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation.. It doesn’t constitute professional advice or a formal recommendation. The author has undertook utmost care to disseminate the true and correct view and doesn’t accept liability for any errors or omissions. You are kindly requested to verify & confirm the updates from the genuine sources before acting on any of the information’s provided herein above.

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2 responses to “Start Filing Form GSTR-1 From Today, Tips For Filing”

  1. shyamje says:

    Dear sir
    Invoice month and shipping month may be different but you can submit gstr-1 return show errors may be another reason

  2. Krishna says:

    Dear Sir,

    We are Direct Exporters, In this connection Invoice Date in July 2017 month But Shipping Bill Date is August Month, in GSTR-1 Return it shows error the invoice month and shipping bill month is different, how can i submit.

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