GSTR-1 Filing: Due Date, Format, Late Fees, Eligibility & Rules

• GSTR stands for Goods and Services Tax Return.
• Taxpayers registered under the regular scheme are required to submit GSTR-1 on a monthly or quarterly basis.
• If you have opted to file the return quarterly, the GSTR-1 filing due date is the 13th day of the month following the end of every quarter.
• If you want to file monthly returns, the GSTR-1 filing due is the 11th day of the following month.

Just like income tax returns simplify the filing of income tax, GST returns make it easier to fulfil GST compliances and requirements. One such important form is GSTR-1, which records all sales transactions during a specific period.If you want to know in detail about GSTR-1, you are at the right place. Through this blog, we delve deep into GSTR-1, including its format, eligibility, due date, and much more.

Before talking about GSTR-1, let’s begin with discussing the different types of GST. Here is a tabulation highlighting the distinction between them:

*CGST - Central Goods and Services Tax, SGST - State Goods and Services Tax, UGST - Union Territory Goods and Services Tax, IGST - Integrated Goods and Services Tax.

Let’s address the basic question now - what is GSTR-1?GSTR stands for Goods and Services Tax Return. Taxpayers registered under the regular scheme are required to submit GSTR-1 on a monthly or quarterly basis. The return periodicity is opted based on the turnover.Submitting the return before the GSTR-1 filing due date ensures regulatory compliance and enables the recipients to claim the correct input tax credit.This return form also serves as a comprehensive source of data for the government to make applicable changes for maintaining transparency and integrity in the GST system.

Understanding the format of GSTR-1 will make it easier for you to understand the return filing process. It will also help you submit correct and complete details.The GSTR-1 format comprises different tables, you need to fill out the applicable tables with details regarding the goods or services supplied during the specific period. Here is a description:

All normal and casual registered taxpayers making sales of goods and services or both are required to furnish GSTR-1.However, theregistered taxpayers mentioned below are not requiredto file the return:

• Taxpayers under the Composition Scheme.
• Non-resident foreign taxpayers.
• Online information database and access retrieval service provider.
• ISD or Input Service Distributors.
• TDS or Tax Deducted at Source (deductors).
• E-commerce operators collecting TCS (Tax Collected at Source).

It is essential to know the documents and information required for return filing. This helps to conveniently file the return before the GSTR-1 filing due date.You must keep your Goods and Services Tax Identification Number ready along with the documents and information listed below:

Documents

Here are the documents typically required for filing GSTR-1:

• A valid DSC (Digital Signature Certificate). However, it is not required if you intend to electronically sign the form using your Aadhaar.
• In case you plan to sign the form electronically, you will need your Aadhaar number. Keep your Aadhaar card handy.

Information

Following are the details to be submitted in Form GSTR-1.

• Invoice level details of supplies to registered persons including those having UIN.
• Invoice level details of Inter-state supplies of invoice value greater than ₹2.5 lakh to unregistered persons (consumers).
• Details of credit/debit notes issued by the supplier against invoices.
• Details of export of goods and services including deemed exports (SEZ or Special Economic Zone).
• Summarised state-level details of supplies to unregistered persons (consumers).
• Summary details of advances received in relation to future supply and their adjustment.
• Details of any amendments effected to the reported information for either of the above categories.
• Nil-rated, exempted, and non-GST supplies.
• HSN/SAC (Service Accounting Code) wise summary of outward supplies.

Here are the steps normally followed to file GSTR-1:

• Step 1: Visit the GST portal and log in using your credentials.
• Step 2: Go to ‘Services’ and select ‘Returns’, Next, choose ‘Returns Dashboard’.
• Step 3: Choose the relevant financial year and the return filing period.
• Step 4: Once you click ‘Search’, you will see ‘Details of outward supplies of goods or services’ as the first search result.
• Step 5: Opt for ‘Prepare Online’ or ‘Prepare Offline’ and fill in the relevant sections.

The GSTR-1 filing due date depends on the return filing periodicity.You can choose to file the return quarterly if:

• Your turnover during the preceding financial year was up to ₹5 crore.
• You have registered during the current financial year and expect the aggregate turnover to be up to ₹5 crore.

If you have opted to file the return quarterly, the GSTR-1 filing due date is the 13th day of the month following the end of every quarter. In case you want to file monthly returns, the GSTR-1 filing due date is the 11th day of the following month.Here’s a tabulation of the GSTR-1 filing due date for easy reference:

If you want to amend a record filed or rectify a mistake committed in GSTR-1 you can do so by filling GSTR-1A which is an amendment return. If you missed reporting a record in GSTR-1, you can report it in GSTR-1A of the same tax period.GSTR-1A is available after filing GSTR-1 or GSTR-1 filing due date, whichever is later. You can submit GSTR-1A at any time before filing GSTR 3B. The amendment return is an optional facility and can be filed only once for a particular tax period. You must note that the changes made in GSTR-1A get auto-populated in GSTR 3B.

Example

You filed GSTR-1 for July 2024 on 10 August 2024. However, eventually, you realised there was a mistake in two records submitted and that you also missed reporting one record in the return filed.The GSTR-1A in this case shall be available on 10 August 2024 (the return filing date) or the GSTR-1 filing due date (11 August 2024), whichever is later.

Once you file your return before the GSTR-1 filing due date, you can check the status by following the steps mentioned below:

• Step 1: Go to the GST portal and log in using your credentials.
• Step 2: Browse to ‘Services’ and click on ‘Returns’. Next, select ‘Track Return Status’.
• Step 3: Mention your ARN, i.e. Acknowledgement Reference Number in the specified field and click ‘Search’.
• Step 4: A table comprising details of your returns will be displayed on the screen.

You will be able to see the return status in the table’s ‘Status’ column.

Failure to file the return before the GSTR-1 filing due date attracts a penalty. The details are mentioned below:

Additionally, an annual interest rate of 18% is imposed on the outstanding tax amount. Also, you may note that the late fees in the case of NIL GSTR-1 filing usually differ.

It is important to file your returns before the GSTR-1 filing due date to ensure regulatory compliance and avoid late fees and penalties. Demonstrating consistent GST compliance, including timely filing of returns, builds trust with internal and external stakeholders, including banks and other financial institutions.Such a strong track record of compliance can improve your chances of getting a favourable term on business loans, enhancing your overall reputation and fuelling business growth. Also Read: GST Returns: 4 Important Things to Know