What is GSTR 1? How to file GSTR 1 Full Procedure and Guidelines

GSTR 1 Introduction

Now a days, Every body is in big tension about GST Return whether it is GSTR 1/ GSTR 2/ GSTR3/ GSTR 4/ GSTR 3B. The government has notified new GST Return formats in this area . The GST Return Formats have been updated to ease the process and simplify compliance for taxpayers under GST. GSTR 1 prescribed  to be filed by every taxpayer except Composition Scheme taxpayers, Non-Resident Foreign taxpayers, TDS deductors, E commerce Operators and Input Service Distributors as there are separate returns for them. This return is required to be filed by the 10th date of every month.

How to file GSTR 1- with Step by Step Procedure

As we have already mentioned that what is GSTR 1? Now we will provide you the complete details about the full procedure/ step by step Procedure/ GSTR 1 filing Procedure. This GSTR 1 topic is consisted of 13 Headings. Now move to the respective step of How to file GSTR 1. A taxpayer is requested to login at GST Portal by using his user ID & Password. After complete login, user can see his dashboard.Click on “Service Menu” and then click on Returns and you will reach at GST Return Page. The steps are as under :

  • Taxpayer will be allotted a state-wise PAN-based 15-digit (GSTIN). The identification of taxpayer will be auto-filled at the time of return filing in future.
  • Name of the taxpayer, will be auto-filled at the time of logging into the common GST Portal. Trade Name, if any, should be separately provided.
  • Tentative Annual Income/ Turn Over  information is required to be filled only in the first year of GST. Other year onwards it will be auto-filled on basis of the previous year.
  •  In the Column of Taxable Outward Supplies to a Registered Person (B2B) – Taxable supplies are required to be filled. Supply here includes any supply under reverse charge mechanism or made through e-commerce operator attracting TCS. In the case of inter-state, only IGST would be filed. Similarly, in the case of intra-state supplies, CGST and SGST can be filed.

 

  • In this respective column Taxable Outward Supplies to a Consumer (B2C) – This column consists of such required information in which the taxpayer is requested to fill in details of inter-state supplies made to an unregistered end consumer where the invoice value is more than 2.5 lakh.
  • Now move to the another column i.e. Zero Rated Supplies and Deemed Exports – This consists will include all kinds of Zero Rated Supplies like exports (including deemed exports) and sale to SEZ. Noticeably, such supplies will only attract IGST.
  • In this Column i.e. Taxable Outward Supplies to a Consumer  – Under this Column, the taxpayer is required to provide details of all the supplies made to an end consumer which were not covered in point 5. This means all intra-state supplies and inter-state supplies with invoice value less than Rs. 2.5 Lakhs.
  • This respective column consists of Nil Rated, Exempt, and Non-GST Outward Supplies – This column consists of  all kind of Nil Rated/ Exempt and Non-GST Supplies irrespective of inter-state or intra-state supplies.
  • Next Respective Column Consists of the original debit notes, credit notes and refund vouchers issued during current and their corresponding amendments.

 

  • Now we move to next column and  This column includes intra-state, inter-state and e-commerce supplies corresponding to them.
  •  Next column/ Bar is Tax Liability of Amount Received in Advance – This column/ bar is consisted of Any kind of advance amount received against a supply to be made or invoice to be issued in future must be reported in this section.
  • Next Column is HSN-wise summary – All outward supplies must be reported in this column categorised on the basis of concerned HSN codes.
  • Now move to documents required option/ Column  and This includes all invoices, revised invoices, debit/ credit notes, receipt/ payment/ refund vouchers.

For more details kindly visit the official website of GST i.e. www.gst.gov.in

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