What is GSTR 1? How to File GSTR 1 and Essential Tips for Filing

by Aditi Ahuja A Passionate Blogger Who loves to write

What is GSTR 1?

If you are a registered taxpayer under the Goods and Services Tax (GST), you need to file a monthly or quarterly return based on the turnover of your business through GSTR 1 . So, what is GSTR 1? It is a document or form that lists all the transaction of supply of goods in a particular month or quarter.

In other words, GSTR 1 means an official recorded document of all the outward supplies made by you in a month or quarter. Note that you need to file GSTR 1 even if there hasn’t been a transaction in the given period.

GSTR 1 filing date

The date and period of filing GSTR 1 depend on the turnover of your business. If the turnover is up to Rs. 1.5 crore, you need to file GSTR 1 returns on a quarterly basis. On the other hand, if it’s above Rs. 1.5 crore, you need to file monthly returns.

The Central Board of Indirect Taxes and Customs (CBIC) has recently notified about the GSTR 1 filing date for the first quarter – April, May and June - of the next financial year, i.e. FY19-20. If you need to file GSTR 1 on a monthly basis, the GSTR 1 filing dates are as follows:

Month	GSTR 1 due date
April	11th May 2019
May	11th June 2019
June	11th July 2019

On the other hand, if you need to file GSTR 1 on a quarterly basis, the due date is 31st July 2019.

How to file GSTR 1?

It’s a common question asked by registered business taxpayers to tax consultants. In case you are wondering how to file GSTR 1, the answer is through the official GST portal. For this, you need to register yourself on the portal, get the user id and password, have a valid GSTIN number and a digital signature certificate (DSC). After this:

Log on to the GST portal
Check for ‘Services’, click on ‘Returns’ and the ‘Returns Dashboard’
On the ‘Returns Dashboard’ input the financial year and month for which you want to file returns and click on ‘Search’
On doing so, you see all the applicable returns for the subsequent period in a tilted format
Select GSTR 1
You can select the option of either preparing return online or upload it
You can either add invoices or upload them
After the form is filled, click on ‘Submit’ and validate the data you have entered
After data validation, click on ‘File GSTR 1’ and proceed for e-sign
Once done, a confirmation message pops up asking you to confirm the return
Once you select ‘Yes’, your return in filed and you get an Acknowledgement Reference Number or ARN

Today, there are various third-party websites to help you with the entire process. These sites offer tutorials and guidance on the various steps for filing GST 1 returns. It’s important to note that you can’t revise the returns once filed. A mistake made in filing returns monthly or quarterly can be rectified only in the subsequent month or quarter.

Penalty for missing GSTR 1 due date

Failing to file returns within the stipulated time of GSTR 1 means paying a penalty. The amount is capped at Rs. 200 per day of delay. For nil-return filers, the penalty is fixed at Rs. 50 per day for intra-state supplies, while for inter-state supplies it is Rs. 20 per day. Note that these rates are subject to change as per the directions of the CBIC.

Who are exempted from filing GSTR 1?

It’s important to note that while it’s essential for every registered taxpayer to file returns within the due date to avoid penalties. However, the below entities are exempt from filing GSTR 1:

Composition Dealers
Input Service Distributors
Those who supply online information and database
Those who supply retrieval services (OIDAR)
Those liable to pay taxes themselves (according to Section 14 of IGST Act)
Non-resident taxable person
Taxpayers liable to collect TCS
Taxpayers liable to deduct TDS

With GST subsuming all indirect taxes to bring the country under a single tax umbrella, it has removed the cascading tax effect and has made tax compliance easy. Filing GSTR 1 is the first step you take towards adhering to the new indirect tax regime.

Also, announcements in the interim budget have raised the minimum threshold for enrolling under GST and the composition scheme, providing relief to several small and mid-sized enterprises (SMEs) in the country. In case you face difficulty to file GSTR 1, it’s advisable to seek professional help.