Every registered taxable person shall be liable to file FORM GSTR-1 in which details of all outward supplies of goods or services or both, made during a particular month, has been given. In this article I have explained the GSTR-1 details, the persons who are liable to file GSTR-1, its format, last date to file FORM GSTR-1, the process of filing FORM GSTR-1.
Who is liable to file FORM GSTR-1?
Every registered taxable person shall be liable to file GSTR-1 of all outward supplies for every month. If no outward supplies have been made in a particular month then he has to file nil return. The following persons are outside the provision of section 37, of filing the GSTR-1:
- Input Service Distributor
- A person paying tax under section 51 (TDS)
- A person paying tax under section 52 (TCS)
- Non-resident taxable person
- A person paying tax under composition scheme
What is the last date to file FORM GSTR-1?
Every registered taxable person shall be liable to file FORM GSTR-1 on or before 10th of the month following the month ended in which outward supplies of goods or services or both made.
Mr. Amit has made outward supplies of goods in the month of August 2017. For outward supplies of goods he will have to file the FORM GSTR-1. In this case, the last date to file GSTR-1 is 10th of the September 2017.
The due date of filing of GSTR-1 has been extended for the month of July and August 2017.
What is the process of FORM GSTR-1?
The process of FORM GSTR-1 is very simple. Here, I tell u the process of filing FORM GSTR-1 in 5 simple:
- The taxable person has to fill the details of outward supplies in FORM GSTR-1 and file it electronically on the common portal of gst.gov.in on or before the 10th of the month following the tax period.
- From the details of GSTR-1, the PART A of the FORM GSTR-2A will be auto populated and shall be available to the recipient for rectification from 11th to the 15th of the month following the tax period.
- The recipient has reviewed the FORM GSTR-2A, if there is any difference from the goods received by the recipient, the recipient modify it in GSTR-2A. With these modifications, the recipient has to file the GSTR-2 on or before 15th of the month following the tax period. The details of GSTR-2 has been shown supplier in FORM GSTR-1A which is auto populated by FORM GSTR-2.
- These modifications have been reviewed by supplier in FORM GSTR-2A. The supplier can accept or reject these modifications on or before the 17th of the month following the tax period.
- Based on these modifications, the supplier can correct the GSTR-1 and file it again on or before 20th of the month following the tax period. If there is any short payment of tax on account of modifications, he has to pay tax and interest. After filling it, the supplier cannot modify it again. With the filling of these two forms GSTR-1 and GSTR-2, the FORM GSTR-3 has been auto populated.
Is there any late fee for late filing of GSTR-1?
If the taxable person not files GSTR-1 till the due date then he will have to pay late fee which is Rs.100 per day till the date defaults continues. The maximum penalty cannot exceed Rs.5000.