GSTR-1 monthly return

The government has approved of a new GST Return format and has made some changes to ease the process of compliance for all taxpayers that fall under GST. We'll have a broader look on what GSTR-1 is, who files it, when to file, what it should include and what does e-filing mean.

1. What is GSTR-1?
2. Who has to file GSTR-1?
3. When is GSTR-1 due?
4. What details should GSTR-1 contain?
5. How to file GSTR-1 on Sleek Bill software?

What is GSTR-1?

GSTR-1 is a monthly report done by all regular and casual registered taxpayers that needs to include details about the outward supplies for the taxable period. In layman terms, GSTR 1 contains details about all the sales transactions that a registered dealer has done in a month.

GSTR-1 contains details about:

• Outward supplies to registered persons
• Outward supplies to unregistered persons (consumers)
• Details of Credit/Debit notes issued against invoices
• Zero rate, exempted and non-GST supplies
• Exports
• Advances received with to future supply

The GSTR 1 that a registered dealer files is used by the government to auto complete GSTR 3 for said dealer and GSTR 2A for dealers to whom the respective supplies have been made.
GSTR-1 has to be filed even in situations where there is no business activity in a given taxable period.

Who has to file GSTR-1?

All GST registered suppliers are required to file GSTR 1, no matter if they have done any business transactions during the reporting month or not. They can do this though the government GST online portal, the offline portal that is provided specially for returns or through a GST Suvidha Provider (GSP).

There are some categories of registered persons who are exempted from filing GSTR 1, these include:

• Input Service Distributors (ISD)
• Dealers registered under the Composition Scheme
• Non-resident taxable person
• Taxpayer liable to collect TCS or TDS
• Suppliers of online information, database access or retrieval services (OIDAR), who have to pay tax themselves.

When is GSTR-1 due?

LATEST UPDATE: 6th of October 2017

As per the 22nd GST Council meeting the following has been decided:

• Businesses with an annual turnover up to 1.5 crores will submit quarterly returns and pay taxes quarterly
• GSTR 1,2 and 3 will be declared later.
• The switch over to quarterly payments will happen from the October - December 2017 quarter onwards

What details should GSTR-1 contain?

1. GSTIN (or provisional ID if you do not have a GSTIN)
2. Legal name of the registered person. This gets auto completed once you login into the GST Portal.
3. Total Turnover for the last Financial Year (total value of all taxable supplies made, excluding the value of inward supplies on which tax is payable by reverse charge), exempt supplies, exports of goods or services.
   Total Turnover between April to June 2017.
   
4. Details of taxable outward supplies made to registered persons (including UIN-holders): All B2B supplies, including exempted sales and nil tax rate sales should be mentioned here.
   
5. Details on taxable outward inter-state supplies to unregistered persons (B2B) and end customers (B2C) where the value exceeds Rs 2.5 lakh.
   
6. Zero-rated supplies and deemed exports.
   
7. This section contains a tax rate wise summary of all sales made during the taxable period.
   - Intra-state: Mention all sales including the ones made through e-commerce operators. Also separate supplies made through e-commerce operator should be declared here.
   - Interstate supplies where the invoice value is upto Rs. 2.5 lakhs: place of supply and supplies made through e-commerce operators.
8. Exempted, NIL-rates and non-GST outward supplies.
   If nothing was declared in the above sections, complete details of these supplies have to be mentioned here.
   
9. Amendments to outward supply to registered dealers from earlier tax periods in tables 4, 5 and 6 (including any current and amended debit notes, credit notes, and refund vouchers):
   Any correction to sales data submitted in returns of previous months pertaining to registered dealers can be done by filling this section.
   
10. Amendments to outward supplies to unregistered persons (both for B2B and B2C) provided in earlier returns.
    
11. Tax liability out of advance receipts.
    - All advances received during the earlier period corresponding to invoices raised during the current period need to be mentioned
    - All advances received in the month for which invoices were not raised
    
12. HSN-wise summary of outward supplies: If you are a registered dealer you need to provide a HSN wise summary of the goods sold.
    
13. Documents issued during the tax period, including details of all invoices issued in the taxation period, all revised invoices, debit notes, credit notes etc.
    

How to file GSTR-1 on Sleek Bill software?

First you need to have an account in Sleek Bill Online, where all your invoicing data can be kept. Then in 3 simple clicks you are ready to file your GSTR-1 report.
All you need to do is go into your account, go to the "GST Reports" section and choose "Sync Data to LegalRaasta" (LegalRaasta is our GSP partner that helps us and you file GSTR reports online with ease).

This way your GSTR-1 data is safely uploaded to their website and an account on LegalRaasta is automatically created for you. You can login to your LegalRaasta account straight from the Sleek Bill Online interface, review your data and file it.

Learn more about Filing GSTR-1 from Sleek Bill.
Alternatively you can file your GST Report using the government offline tool https://www.gst.gov.in/download/returns (free of charge)