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UNDERSTANDING OF GSTR-1 AND ITS FILLING

GSTR 1 prescribes the details to be provided by the taxpayer in relation to outward supplies made to the buyer for the relevant period. GSTR 1 needs to be filed by every taxpayer except Composition Scheme taxpayers and Input Service Distributors (as there are separate returns for them). This return is required to be filed by the 10th of subsequent month

In simple words this is a sales register of goods and services; here we can enter the details data of sales.

 

GSTR-1 has a total of 13 headings. However, the taxable person need not worry as most of these will be prefilled.

Process of filing GSTR 1

Step 1 : A taxpayer is required to login at GST Portal by using his user ID & Password
Step 2 : After Successfully login, user can see his dashboard
Step 3 : Now click on “Service Menu” and then click on Returns and you will reach at GST Return Page. This section shows all the services available on the GST portal. You can select one to proceed further.

Particulars to be filed under GSTR 1

  1. Aggregate Turnover in the preceding Financial Year and for April to June 2017: - Aggregate Turnover is total taxable supplies made. This excludes purchases on which tax is paid under reverse charge, exempt supplies and export of goods or services.
  2. 4A, 4B, 4C, 6B, 6C - B2B Invoices (B2B Invoices - Receiver-Wise-Summary) - Here, you need to fill the detail of sale of goods or services made to Business owner or person who is already registered under GST i.e. person having GSTIN number. It could be any of them i.e. inter or Intra state sale.
  3. 5A, 5B - B2C (Large) Invoices – {Taxable Outward Supplies to a Consumer (B2C) - Where place of supply is other than the State where supplier is located (Inter-state supplies) and Invoice value is more than Rs 2.5 lakh (optional in respect of other supplies)} - This for those parties who are not registered under GST & whom goods has been supplied. i.e they don’t have any GSTIN. The sale of goods is interstate & worth more than Rs. 2.5 Lakh.
  4. 9B - Credit / Debit Notes (Registered) and 9B - Credit / Debit Notes (Unregistered) Credit/Debit Notes - During the course of business, you need issue as well as cancel lots of invoices. Keeping in mind these concern Debit and credit notes option is provided. Here, modification in any invoices which has been issued already issued can be corrected by filling details in debit/credit notes. The occasion can be numerous when you need help of this such as post sale discount etc.
  5. 6A - Exports Invoices - Here, all the export details is filled. All the supplies that has been exported need to be furnished here.
  6. 7 - B2C (Others) {Taxable Outward Supplies to a Consumer (B2C other than point 5)} – Under this heading, the taxpayer is required to provide details of all the supplies made to an end consumer which were not covered in point 5. This means all intra-state supplies and inter-state supplies with invoice value less than Rs. 2.5 Lakhs with separate disclosure for supplies through e-commerce operator.
  7. 8A, 8B, 8C, 8D - Nil Rated Supplies {Nil Rated, Exempt, and Non-GST Outward Supplies} – Here, You need to fill the details of those sales of goods on which Tax is 0%, or exempted. You don’t need to fill nil or exempted details if you already filled the same in column 5 or 6 or 7 filling rate as 0 in respective column. But you do make sure to fill the Non GST goods and services.
  8. 11A(1), 11A(2) - Tax Liability (Advances Received) {Tax Liability of Amount Received in Advance for which invoice has not been issued} – Here, those amounts which have been received for supplying goods in future are filled. Make sure you are not going to fill the details of those invoices whose supply or service is made during the same month as you already have filled those details in upper tables.
  9. 11B(1), 11B(2) - Adjustment of Advances {Tax already paid (on advance receipt) on invoices issued in the current period} - Here, on those transactions on which you have already deposited Tax but you have generated invoices latter need to be filled.
  10. 12 - HSN-wise summary of outward supplies {HSN-wise summary} – All outward supplies must be reported in this section categorised on the basis of HSN codes.
  11. 13 - Documents Issued– All documents issued are required to be disclosed here. This includes all invoices, revised invoices, debit/ credit notes, receipt/ payment/ refund vouchers.

 



Author : SUNIL MITTAL

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