78

Frequently Asked Questions on GST Returns- FORM GSTR-1

Posted on by Fastlegal Team

In this article we have covered frequently asked question on GSTR-1 asked by our clients as well as some questions has also been taken from Governments’ GST Portal.

1. What is GSTR-1?
GSTR-1 is a monthly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making outward supplies of goods and services or both and contains details of outward supplies of goods and services.
2. Who is required to file the GSTR-1?
Every registered taxable person, other than an input service distributor/compounding taxpayer/TDS Deductor/TCS Collector is required to file GSTR-1, the details of outward supplies of goods and/or services during a tax period, electronically on the GST Portal.
3. Is GSTR-1 filing mandatory?
GSTR-1 needs to be filed even if there is no business activity (Nil Return) in the tax period.
4. What are the available modes of preparing GSTR-1?
GSTR-1 can be prepared using the following modes through:
A. Online entry on the GST Portal
B. Uploading of invoice and other GSTR-1 data using Returns Offline Tool
C. Using third party application of Application Software Provider (ASPs) through GST Suvidha Providers (GSPs)
5. What details have to be furnished in GSTR-1?
The following details of a tax period have to be furnished in GSTR-1:
a. Invoice level details of supplies to registered persons including those having UIN
b. Invoice level details of Inter- state supplies of invoice value greater than equal to INR 2,50,000 to unregistered persons (consumers)
c. Details of Credit/Debit Notes issued by the supplier against invoices
d. Details of export of goods and services including deemed exports (SEZ)
e. Summarised state level details of supplies to unregistered persons (consumers)
f. Summary Details of Advances received in relation to future supply and their adjustment
g. Details of any amendments effected to the reported information for either of the above categories.
h. Nil- rated, exempted, and non-GST supplies
i. HSN/SAC wise summary of outward supplies
6. Which type of registered taxpayers are not required to file the GSTR-1?
The following taxpayers are not required to file GSTR-1:
• Taxpayers under the Composition Scheme (Return to be filled by them in GSTR 4)
• Non-resident foreign tax payers (Return to be filled by them in GSTR 5)
• Online information database and access retrieval service provider (Return to be filled by them in GSTR 5A)
• Input Service Distributors (ISD) (Return to be filled by them in GSTR-6)
• Tax Deducted at Source (TDS) deductors (Return to be filled by them in GSTR 7)
• E-commerce operators deducting TCS (Return to be filled by them in GSTR 8)
7. What are the pre-requisites for filing GSTR-1?
Pre-requisites for filing GSTR-1 are:
a. The taxpayer should be a registered taxpayer and should have an active GSTIN during the tax period for which GSTR-1 has to be furnished.
b. The taxpayer should have valid login credentials (i.e., User ID and password) to login into GST Portal.
c. The taxpayer should have an active and non-expired/ revoked digital signature (DSC), in case the digital signature is mandatory
d. In case a taxpayer wants to use E-Sign, they must have a valid Aadhar number with access to the mobile number and e-mail id registered with Aadhar authority (UIDAI) as OTP will only be sent on the registered mobile number and e-mail id. In case the taxpayer has changed the mobile number and e-mail id, they must first update the same with UIDAI. For cancelled GSTINs, the taxpayers will have an option to file GSTR-1 for the period up to the date of cancellation.
e. In case taxpayer wants to use EVC, they must have access to the registered mobile number of the Primary Authorized Signatory
8. For which class of Taxpayers is DSC mandatory for filing returns?
DSC is mandatory in case of all Public & Private Limited Companies, Limited Liability Partnerships (LLPs), and Foreign Limited Liability Partnerships (FLLPs).
9. By when do I need to file the GSTR-1 for a given tax period? OR What is the due date for filing the GSTR-1?
For normal taxpayers due date to file GSTR-1 for a given tax period is 10th day of the succeeding month and small taxpayers with turnover up to 1.5 crore are required to file GSTR-1 quarterly.
10. How should the value of turnover to be in entered in the mandatory field on the landing page of GSTR-1?
The turnover value in Table 3 of GSTR-1 has to be entered manually for the first year as the information is not available with the GST system. From the second year of implementation of GST, the system will auto-calculate the turnover based on all the annual returns filed for all the GSTINs associated with a given PAN (PAN-based turnover). However, the turnover value will be editable and you will have the option to amend it.
11. What does the ‘Total Invoice Value’ column indicate in GSTR-1?
The ‘Total Invoice Value’ column in GSTR-1 is for the invoice value inclusive of taxes.
12. Will there be any validation on relationship between Invoice value and Taxable Value?
Taxable value is the value as per the provisions of GST law. There will be no validation that the invoice value is equivalent to taxable value plus the tax amount.
13. Can I enter details of Goods and Services in the same invoice?
Yes, you can enter details of Goods and Services in the same invoices.
14. What are B2B Supplies?
B2B Supply refers to supply transactions between registered taxable entities/persons (Business-to-Business supplies).
15. What is meant by B2C Supplies?
B2C Supply refers to supply transactions between a Registered Supplier and an Unregistered Buyer (Business-to-Consumer).
16. What are Debit Notes?
A Debit Note is a document issued against an invoice in cases where the original invoice was issued at a value lower than the actual value of goods and/or services provided. It can also be issued in case of post supply price negotiations. The difference amount is accounted for in the form of a Debit note
17. What are Credit Notes?
Credit Note is a document issued against an invoice in cases where invoice was issued at a value higher than the actual value of goods and/or services provided or the invoice value is reduced due to post supply negotiations. This may also happen when the goods supplied are returned by the recipient, or where goods or services or both supplied are found to be deficient.
18. When are Debit Notes to be reported in the return?
Debit Notes are to be reported in the return of the month in which they are issued by the supplier.
19. When are Credit Notes to be reported in the return?
Credit Notes are to be reported in the return of the month in which they are issued but not later than the return of the September month following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier.
20. Does a tax payer need to report the credit notes and debit notes of supplies to consumer separately?
No. In case of supplies to consumers are to be reported in a consolidated manner (intra-state supplies to consumer and inter-state supplies of invoice value less than INR 2.5 lakhs), the credit/debit notes are not required to be reported separately. Such supplies have to be reported in a consolidated manner net off the values of credit and debit notes.
21. In case of Receipt of advance by the Supplier from a Receiver, is the supplier liable to pay tax on such an advance amount?
Yes, Supplier is liable to pay tax on advances received from Receivers for the supply of goods and services and report the consolidated advance received details in month in which payment is received. The amount of advances to be reported in GSTR-1 is net off the amount for which invoices have already been issued and the value reported in the same return in other sections.
22. How is the tax paid on advance payments adjusted against the invoice(s) issued in the subsequent tax period(s)?
The taxpayer has to declare the advance that has to be adjusted in the tax period in which advance is received. Subsequently when invoice is issued,then taxpayer can
adjust the tax liability of the invoice issued of that tax period, in the GSTR-1 of that period. This can be shown in the advance adjustment table of GSTR-1.
23. Whether purchases from unregistered person, which are subject to reverse charge, for which the recipient issues a tax invoice, is required to be reported ?
All the purchases from unregistered person, which are subject to reverse charge, for which the recipients issues a tax invoice are to be reported in GSTR-2 (and not in GSTR-1).
24. Do I need to upload the invoice(s) details at the time of filing GSTR-1?
Taxpayers can upload invoice details any time during the tax period and not just at the time of filing of GSTR-1. For example, let’s take September 2017 as the tax period – the tax payer can upload invoices from 1st September to 10th October and after 15th October in case of late filing of GSTR-1.
25. Until when can changes be made to the uploaded invoice details?
Taxpayers can modify/delete invoices any number of times till they submit the GSTR-1 of that particular tax period. The uploaded invoice details are in a draft version, and can be changed irrespective of due date until the GSTR-1 is submitted.
26. What is the due date for the payment of monthly tax liabilities for normal taxpayers?
A normal taxpayer is required to discharge their return related liability at the time of filing of GSTR-3. The current due date for filing GSTR-3 is 20th of the succeeding month.

Fastlegal Team

Fastlegal.in is an online provider of legal services such as IP registration & filing, company registration, taxation returns, legal compliance & annual filings, contract drafting, Online Annual Compliance package on a subscription basis (ROC filing, audit requirements, change in partners etc) and Online Registration Package (registering business as a private limited company or LLP or Partnership).

More Posts

78 Comments

  2. We stumbled over here by a different web address and thought I may as well check things out. I like what I see so now i am following you. Look forward to going over your web page for a second time.

  4. An attention-grabbing discussion is worth comment. I believe that you must write extra on this subject, it might not be a taboo topic but typically individuals are not sufficient to talk on such topics. To the next. Cheers

  5. Hi there! This post couldn’t be written any better! Reading through this post reminds me of my previous room mate! He always kept talking about this. I will forward this article to him. Pretty sure he will have a good read. Thank you for sharing!

  6. Your style is so unique compared to many other people. Thank you for publishing when you have the opportunity,Guess I will just make this bookmarked.2

  8. It’s actually a nice and useful piece of information. I am glad that you shared this useful info with us. Please keep us up to date like this. Thanks for sharing.

  9. It is in reality a great and useful piece of information. I am satisfied that you simply shared this useful info with us. Please stay us up to date like this. Thanks for sharing.

  11. What Is Sugar Defender? Sugar Defender is a natural blood sugar support formula created by Tom Green. It is based on scientific breakthroughs and clinical studies.

  12. Those are yours alright! . We at least need to get these people stealing images to start blogging! They probably just did a image search and grabbed them. They look good though!

  14. Fantastic site. Lots of helpful information here. I am sending it to several pals ans additionally sharing in delicious. And obviously, thanks in your sweat!

  15. Hi, Neat post. There is a problem with your web site in internet explorer, would test this… IE still is the market leader and a big portion of people will miss your wonderful writing due to this problem.

  20. FitSpresso is a weight loss supplement developed using clinically proven ingredients extracted from natural sources.

  23. What Is Potent Stream? Potent Stream is a male health formula that helps to maintain healthy urinary and prostate health by killing off all the toxins in the body

  27. I think other web-site proprietors should take this website as an model, very clean and excellent user friendly style and design, let alone the content. You are an expert in this topic!

  29. You can definitely see your skills within the work you write. The world hopes for more passionate writers such as you who are not afraid to mention how they believe. All the time go after your heart. “Faith in the ability of a leader is of slight service unless it be united with faith in his justice.” by George Goethals.

  30. I¦ll right away grab your rss as I can not find your e-mail subscription link or e-newsletter service. Do you have any? Kindly permit me recognise so that I may subscribe. Thanks.

  32. I’ve been surfing online greater than three hours lately, but I by no means found any interesting article like yours. It’s pretty worth enough for me. In my opinion, if all webmasters and bloggers made good content as you did, the internet might be much more useful than ever before.

  33. I have been absent for a while, but now I remember why I used to love this web site. Thank you, I’ll try and check back more often. How frequently you update your website?

  35. The other day, while I was at work, my cousin stole my apple ipad and tested to see if it can survive a 40 foot drop, just so she can be a youtube sensation. My iPad is now destroyed and she has 83 views. I know this is totally off topic but I had to share it with someone!

  36. What¦s Taking place i am new to this, I stumbled upon this I have found It positively useful and it has helped me out loads. I’m hoping to contribute & aid other users like its aided me. Great job.

  39. I think this website has some real fantastic info for everyone. “It is easy enough to define what the Commonwealth is not. Indeed this is quite a popular pastime.” by Elizabeth II.

  42. Hi, i feel that i saw you visited my weblog thus i came to “return the prefer”.I’m attempting to to find issues to improve my site!I assume its good enough to use a few of your ideas!!

  43. You really make it appear really easy together with your presentation however I to find this matter to be actually one thing which I think I would never understand. It sort of feels too complex and extremely wide for me. I’m taking a look forward for your subsequent put up, I will attempt to get the grasp of it!

  45. I don’t even know how I ended up right here, however I assumed this post used to be good. I don’t recognise who you might be but certainly you’re going to a famous blogger in case you aren’t already 😉 Cheers!

  46. I have recently started a web site, the information you offer on this web site has helped me greatly. Thank you for all of your time & work.

  47. fantastic submit, very informative. I ponder why the opposite experts of this sector don’t notice this. You must continue your writing. I am confident, you’ve a huge readers’ base already!

  48. Hi there! I just wanted to ask if you ever have any trouble with hackers? My last blog (wordpress) was hacked and I ended up losing many months of hard work due to no backup. Do you have any solutions to protect against hackers?

  49. Someone essentially help to make seriously posts I would state. This is the first time I frequented your website page and thus far? I amazed with the research you made to make this particular publish amazing. Great job!

  50. I do not even understand how I finished up here, but I thought this put up was once good. I don’t recognize who you might be however certainly you’re going to a well-known blogger if you aren’t already 😉 Cheers!

  51. What Is FitSpresso? The effective weight management formula FitSpresso is designed to inherently support weight loss. It is made using a synergistic blend of ingredients chosen especially for their metabolism-boosting and fat-burning features.

  52. What is Lottery Defeater Software? Lottery Defeater Software is a plug-and-play Lottery Winning Software that is fully automated. Kenneth created the Lottery Defeater software. Every time someone plays the lottery, it increases their odds of winning by around 98.

  53. I have read several good stuff here. Certainly value bookmarking for revisiting. I surprise how a lot effort you put to make this type of fantastic informative web site.

  55. I like this weblog so much, bookmarked. “I don’t care what is written about me so long as it isn’t true.” by Dorothy Parker.

  56. What’s Happening i’m new to this, I stumbled upon this I’ve found It positively helpful and it has aided me out loads. I hope to contribute & assist other users like its aided me. Good job.

  57. Hi, I think your site might be having browser compatibility issues. When I look at your website in Safari, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, fantastic blog!

  58. I’ll immediately grab your rss feed as I can’t find your email subscription link or newsletter service. Do you have any? Please let me know so that I could subscribe. Thanks.

  60. Hi, Neat post. There’s a problem with your web site in internet explorer, would check this… IE still is the market leader and a good portion of people will miss your wonderful writing because of this problem.

  63. I have been exploring for a bit for any high-quality articles or blog posts on this kind of area . Exploring in Yahoo I at last stumbled upon this website. Reading this info So i’m happy to convey that I’ve an incredibly good uncanny feeling I discovered exactly what I needed. I most certainly will make certain to don’t forget this web site and give it a glance regularly.

  64. Hello, you used to write great, but the last few posts have been kinda boring?K I miss your great writings. Past few posts are just a little bit out of track! come on!

  65. Can I simply say what a relief to seek out somebody who truly is aware of what theyre speaking about on the internet. You positively know learn how to convey a difficulty to light and make it important. More people have to learn this and perceive this facet of the story. I cant consider youre not more popular because you undoubtedly have the gift.

  66. Thanks for every other informative site. The place else could I get that type of information written in such a perfect way? I have a mission that I’m simply now operating on, and I have been at the glance out for such information.

  68. Wow, awesome blog layout! How long have you been blogging for? you made blogging look easy. The overall look of your site is magnificent, as well as the content!

  71. Hi there this is somewhat of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding knowledge so I wanted to get guidance from someone with experience. Any help would be enormously appreciated!

  76. I’m not sure the place you are getting your info, but good topic. I needs to spend some time learning much more or understanding more. Thanks for fantastic information I was on the lookout for this information for my mission.

  77. I do not even know the way I stopped up right here, however I thought this
    publish was once great. I don’t realize who you’re but definitely you’re going to a well-known blogger for
    those who are not already. Cheers!

    Have a look at my web page – testoprime review

Leave a Reply

Your email address will not be published. Required fields are marked *