How to File GSTR-1
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| HOW TO FILE GSTR-1 |
1. Access the GST Portal: Visit
the official GST portal (www.gst.gov.in) and log in using your credentials
(username and password). If you're a first-time user, you'll need to register
on the portal.
2. Navigate to GSTR-1 Section:
After logging in, go to the 'Services' tab and select 'Returns' from the
dropdown menu. Then choose 'Returns Dashboard'. This dashboard provides access
to various GST returns including GSTR-1.
3. Select the Return Period:
Choose the return period for which you want to file GSTR-1. You can file it
monthly or quarterly based on your turnover. Ensure that you select the correct
return period to avoid any discrepancies.
4. Prepare GSTR-1: Once you've
selected the return period, click on 'Prepare Online' or 'Prepare Offline'
depending on your preference.
- If you choose 'Prepare Online', you'll directly enter the details on
the GST portal.
- If you choose 'Prepare Offline', you'll need to download the GSTR-1
offline utility. This is a tool provided by the GSTN (Goods and Services Tax
Network) that allows you to fill in the details offline on your computer.
5. Fill in the Details:
Regardless of whether you're preparing online or offline, you'll need to enter
various details in GSTR-1 such as:
- Outward supplies to registered taxpayers (B2B)
- Outward supplies to unregistered taxpayers (B2C)
- Exports
- Taxable supplies to consumers through e-commerce operators
- Amendments to previous returns, if any
Make sure to provide accurate information including invoice details,
GSTIN of the recipient, HSN (Harmonized System of Nomenclature) codes for
goods, and invoice-wise details.
6. Save and Validate: After
entering all the details, save the form and then click on the 'Validate'
button. This step ensures that there are no errors or discrepancies in the
information provided.
7. Generate Summary: Once
validation is successful, click on the 'Generate Summary' button. This will
generate a summary of the data entered, which you can review before final
submission.
8. Preview and Submit: Review the
summary generated and make any necessary corrections if required. After
ensuring that all details are accurate, click on the 'Preview' button to see
how the form will look when filed. If everything looks good, click on the
'Submit' button to proceed with filing.
9. File with DSC or EVC: After
submitting the form, you'll need to authenticate it either by digitally signing
the form using a Digital Signature Certificate (DSC) or by generating an
Electronic Verification Code (EVC) through OTP (One Time Password) sent to your
registered mobile number or email address.
10. Acknowledgment: Once the form
is successfully filed and verified, you'll receive an acknowledgment in the
form of an Application Reference Number (ARN). This confirms that your GSTR-1
return has been filed.
It's crucial to file GSTR-1
within the due date specified by the GST authorities to avoid penalties and
ensure compliance with GST regulations. If you encounter any difficulties or
have specific questions while filing, it's advisable to consult a tax professional
or refer to the official GST portal for guidance.
who is required to furnish GSTR-1 under the Goods and Services Tax (GST) regime:
1. Regular Taxpayers:
These are businesses registered under GST that are engaged in the supply of
goods or services. They need to file GSTR-1 to report details of their outward
supplies made during the tax period. Outward supplies include sales made to
other registered businesses (B2B) as well as sales made to unregistered
consumers (B2C). Regular taxpayers need to provide information such as
invoice-wise details, taxable value, and applicable GST rates for all outward
supplies.
2. Composition Taxpayers: Taxpayers
who have opted for the composition scheme under GST are also required to file
GSTR-1. However, their filing requirements differ from those of regular
taxpayers. Composition taxpayers are liable to pay tax at a fixed rate based on
their turnover, and they are not required to provide detailed invoice-wise
information in GSTR-1. Instead, they need to furnish consolidated details of
outward supplies made during the tax period.
3. Non-Resident Taxpayers:
Non-resident taxpayers who are registered under GST and make outward supplies
of goods or services in India need to file GSTR-1. These could include foreign
companies or individuals who have a GST registration in India for supplying
goods or services.
4. Input Service Distributors
(ISDs): ISDs are entities that receive invoices for input services and
distribute the credit of Integrated Goods and Services Tax (IGST) paid on those
services to their branches or units. ISDs need to furnish GSTR-1 to report the
details of such distributions made during the tax period. This helps in
reconciling input tax credit across different branches or units of the ISD.
5. Person deducting tax at
source
6. Supplier of online information
and database access retrieval services
For all the above categories of
taxpayers, filing GSTR-1 is a crucial compliance requirement under GST. It
ensures transparency in reporting outward supplies, facilitates input tax
credit reconciliation for recipients, and enables tax authorities to monitor
and verify tax liabilities accurately. Failure to furnish GSTR-1 within the
specified due dates may attract penalties and interest under the GST law.
Therefore, it's essential for taxpayers to understand their filing obligations
and comply with them diligently to avoid any compliance issues.