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Form GSTR 1 - Everything You Need to Know about It

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Form GSTR 1 - Everything You Need to Know about It

GSTR 1 - Introduction 
GSTR-1 is a monthly or quarterly return (based on taxpayer’s annual turnover) that should be filed by every registered dealer. In this form, the registered taxpayers are required to provide details of all their outward supplies/sales records.

Due date: The due date for GSTR-1 is based on the taxpayer’s annual turnover.
For businesses with an annual turnover of 1.5 crores or above are required to file their form GSTR 1 on a monthly basis, on or before the 11th day of the succeeding month. 

For businesses with turnover below 1.5 crores can file their form GSTR 1 on a quarterly basis, on or before the 30th day of the month succeeding the quarter.

Upcoming GSTR 1 Due Dates for FY 2019-20 

Monthly GSTR 1 Due Dates

Quarterly  GSTR 1 Due Dates

April 2019

11th May 2019

April-June 2019 30th July 2019

May 2019

11th June 2019

July-Sept 2019 30th October 2019

June 2019

11th July 2019 Oct-Dec 2019 30th January 2020

Who is required to file form GSTR 1?
Under the GST regime, it is mandatory for every* registered taxpayer to furnish his/her Form GSTR 1 before the given due date, even in case of NIL returns. 

*The following taxpayers are exempt for filing form GSTR 1:

  • Input Service Distributors (ISD)
  • Composition Dealers
  • OIDAR suppliers, who have to pay tax themselves (as per Section 14 of the IGST Act)
  • Non-resident taxable person
  • TCS Collectors
  • TDS Deductors

Penal provisions for non-compliance
In case of missed or delayed filing of form GSTR 1, Late Fee of Rs. 200 per day of delay shall be levied upon the taxpayer (Rs. 100 as per the CGST Act and Rs. 100 as per the SGST Act).

Update: The penalty for delayed filing of form GSTR 1 has been reduced to Rs. 50 per day. Additionally, the late fee in case of NIL returns has been set to Rs. 20 Per day.

Form GSTR 1 and E-Way Bills
The 31st GST council witnessed the amalgamation/linking of Eway bills (EWB) with form GSTR 1. In order to keep a tab on the compliance cycle of a taxpayer, the GST council announced the restriction on the generation of EWBs, if GSTRs are not filed for two consecutive tax periods. To know further details, read our article on “Importing Your E-way Bills into GSTR-1” 

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About Ashwini Gorhe

Ashwini

Ashwini Gorhe, a Chartered Accountant, is associated with IRIS as a Financial Analyst. She has around 6 years of experience in compliance space which includes XBRL reporting, GST and Data analysis. She is actively involved in the IRIS Sapphire (GST filing solution) and IRIS Topaz (E-way bill solution) product development. Before GST, she was handling US compliance analyzing US financial statements and reviewing XBRL filings for US and India market.

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