With an intention to ease the implementation of GST, the GST Council increased the timeline to submit GSTR-1 and GSTR-2 for July and August 2017.
Instead of that, the council introduced GSTR-3B, a summarized outward/inward return for these two months. The last date of submission of this return was 20th of August.
Today, we will discuss GSTR-1 in detail. All the businesses registered under the regular scheme will have to file GSTR-1 even if they have files GSTR-3B.
Summary of details to be filled in GSTR-1
GSTR-1 has to b files by every person registered under the regular scheme.
Composition scheme holders, ISD’s, E-commerce operators, Non-resident dealers and tax deductors.
Go to GSTN portal and log in with your username and password. Navigate to the GSTR-1 in Returns menu on the Dashboard.
Below listed are 13 different heads which are to be filled in GSTR-1:
1. GSTIN of the Taxpayer
GSTIN is auto-populated as you are logged in with your username and password.
2. Name of Taxpayer
Your registered name is also auto-populated.
3. Turnover of Last Financial Year and Return Period
Turnover of the last financial year needs to be entered only once. Enter month for which the GSTR-1 is to be filed.
4. Outward Supplies to Registered Buyers
In this section, you need to enter the invoice-wise details supplies made to registered users.
CGST and SGST in the case of intrastate sales to registered buyers. IGST in the case of inter-state supplies made to registered buyers.
Other exempted or nil rate supplies to registered buyers are also mentioned in this section.
This section is called B2B, where supplier and buyer are registered under GST.
5. Outward Supply greater than 2.5 lakh made to unregistered Buyers
Here, you need to enter the invoice-wise details of supplies made to unregistered persons that exceed 2.5 lakh limit.
6. Zero rates supplies and Deemed Exports
7. Totals of Outward Supply less than 2.5 made to unregistered Buyers
Here, you need to enter only the total amount of sales made to unregistered individuals that are under 2.5 lakh limit.
8. Nil rates, exempted and Non-GST supplies
Details of all nil-rated exempted and Non-GST supplies that have made during that month.
9. Amendments of Previous Period
If there are any amendments from your previous periods you can enter them in this section.
10. Amendments t0 Previous Returns
11. Advance Receipts
This section will include the details of advances received and adjusted in the current return period.
Your tax liability will increase or decrease accordingly.
Apart from that, the amendments of advances from previous period are also mentioned in this section.
12. Export Supplies
Apart from the details of export sales, you will also have to enter the HSN code of the goods or services supplied.
13. Documents Issued
All documents issued by you during the period are reported in this section.
These documents include invoices, revised invoices, debit notes and credit notes, receipt voucher, payment voucher and refund vouchers.
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