How to File GST Return-1?

procedures-and-particulars-required-to-file-gst-return-1

GST Return-1 where suppliers record their outward supplies during the month of reporting. It is obligatory for all the taxable individual who have registered themselves on the GST Network portal are required to file Return-1 by the 10th of the following month. GST Return-1 is considered to be a starting point for passing the input tax credits to the dealers.

To understand who all are eligible to file GST Return-1 one can pay heed to the following:

  • Input Service Distributors
  • Composition Dealers
  • Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves (as per Section 14 of the IGST Act)
  • Non-resident taxable person
  • Tax payer liable to collect TCS
  • Tax payer liable to deduct TDS

Now the question that comes to light is what particulars are required to file GST Return-1 and the solution is right on the deck.

In GST Return-1 there are 13 heads that are to be filed which are enlisted as under:

  • Name of the taxable person, auto-populated field.
  • GSTIN of the taxable person filing the return, auto-populated field.
  • Total financial turnover in last financial year. This is a one-time action and has to be filled once. This field will be auto populated with the closing balance of the last year.
  • The period for which the return is begin filed month and year is available as a drop down selection.
  • Details of taxable outward supplies made to registered person so CGST and SGST shall be filled in case of inter-state movement. Details of exempted sales or sales at nil rate of tax shall also be mentioned here.
  • Details of outward supplies made to end customer, where the value exceeds Rs. 2.5 lacks-other than mentioned, and all such supplies are optional in nature.
  • The total of all the outward supplies made to end consumers, where the value does not exceed Rs. 2.5 lacks.
  • Details of debit notes or credit notes
  • Amendments to outward supplies of the previous period. Apart from these two, any changes made to a GST invoice has to be mentioned in this section
  • Exempted, Nil rated and no GST supplies- if nothing has been mentioned in the above sections, then the complete details of such supplies have to be declared.
  • Details of export sales made-up addition to the sales figures, HSN codes of the goods supplied have to be mentioned as well.
  • Tax liability arising out of advanced receipts.
  • Tax paid during the reporting periods it can also include taxes paid for earlier periods.

To move to the next step we must know how to file GST Return-1. Once particulars are ready suppliers need to log in to the GST Network portal with the given User ID and password, follow these steps to file their returns successfully.

  • Invoices can be updated on a regular basis before filing GSTR-1. Technically, dealers have a time slot of 40 days to upload their invoices, i.e. from 1st of the reporting month till the 10th of the next month. There can be several changes made to the list of invoices during this period.
  • Now the question that comes to light is what particulars are required to file GST Return-1 and the solution is right on the deck.
  • Search for “Services” and then click on Returns, followed by Returns Dashboard.
  • In the dashboard, the dealer has to enter the financial year and the month for which the return needs to be filed. Click on Search after that.
  • All returns relating to this period will be displayed on the screen in a tiled manner.
  • Dealer has to select the tile containing GST Return-1
  • After this, he will have the option either to prepare online or to upload the return.
  • The dealer will now Add invoices or upload all invoices directly
  • Once the entire form is filled up, the dealer shall then click on Submit and validate the data filled up
  • With the data validated, dealer will now click on FILE GST Return-1 and proceed to either E-Sign or digitally sign the form
  • Another confirmation pop-up will be displayed on the screen with a yes or no option to file the return.

Once yes is selected, an Acknowledgement Reference Number (ARN) will be generated.

It is to be taken into account that GST Return-1 is almost on one:

  • GSTR-1 for the month of July 2017 is due on 5th September 2017.
  • GSTR-1 for the month of August 2017 is due on 20th September 2017.
  • Starting from the month of September 2017 GSTR-1 is required to be filed within 10th of next month.

 

Note – Please note that the above article is part of our continuous research on the related matters. It is based on our interpretation of related regulations which may differ person to person. Readers are expected to take expert opinion before relying on above.

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