GSTR-1 -ASTER BILLING

Basics of GSTR-1

a. What is GSTR-1?

GSTR-1 is a monthly or quarterly return that should be filed by every registered dealer. It contains details of all outward supplies i.e sales.

The return has a total of 13 sections.

b. When is GSTR-1 due?

The due dates for GSTR-1 are based on your turnover.

Businesses with sales of upto Rs. 1.5 crore will file quarterly returns.

Other taxpayers with sales above Rs. 1.5 crore have to file monthly return.

Here are the due dates for the return until March  2018.

Period	Due date
Apr-Jun 2018	31st July 2018
Jul-Sept 2018	31st Oct 2018
Oct-Dec 2018	31st Jan 2019
Jan-Mar 2018	30th Apr 2019

If your turnover is greater than Rs. 1.5 crore a return should be filed for every month.

October 201811th November 2018November 201811th December 2018

Period	Due date
June 2018	10th July 2018
July 2018	11th August 2018
August 2018	11th September 2018
September 2018	11th October 2018

c. Who should file GSTR-1?

Every registered person is required to file GSTR-1 irrespective of whether there are any transactions during the month or not.

The following registered persons are exempt from filing the return:

• 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
• Taxpayer liable to collect TCS
• Taxpayer liable to deduct TDS

d. How to revise GSTR-1?

Return once filed cannot be revised. Any mistake made in the return can be rectified in the next periods (month/quarter) return. It means that if a mistake is made in September GSTR-1, rectification for the same can be made in October’s GSTR-1.

e. Late Fees and Penalty

Late Fees for not filing GSTR-1 is Rs. 200 per day of delay (Rs. 100 as per CGST Act and Rs. 100 as per SGST Act. The late fees will be charged from the date after the due date.