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The world of GST and tax assessment has been experiencing enormous changes because of the lockdown. The Covid pandemic has influenced not just the health of the country but also our economy. The finance ministry has been giving out help measures in the midst of COVID-19 and has rolled out a few improvements in the GST filing due dates.
GSTR 1 is a month to month return of outward supplies. Basically, it is a return indicating all the business exchanges of a business. Each business enrolled under GST should document the GSTR 1.
CBIC has currently issued GSTR 1 due date extended notification 49/2020 to 56/2020 and circular 141/11/2020 to give some help by expanding the due dates for return filing and furthermore amendment certain arrangements in the GST Act
Enrolled citizens with a yearly turnover exceeding 1.5 crores need to document the GSTR 1 return for each 11th of next month (Oct 2020 to Dec 2020). Citizens need to furnish complete details of their outward supplies in the GSTR 1 form. GSTR 1 form is related to each registered dealer who is under the normal scheme will have to file their outward supplies (sales) within 40 days from the end of the month.
The Form GSTR-1 is recorded by all the registered taxpayers to fill outward supply details of business regardless of if the exchange was done in a month
It should be filled by the 11th of the next month of which the return must be documented
The invoices details should be filled in recommended fields
The outward supplies incorporate supplies to an unregistered individual, enrolled individual, excluded and trades received advances and non-GST supplies
GSTR-1 due dates depend on your turnover.
Organizations with sales of up to Rs. 1.5 crore have an alternative to file quarterly returns.
Other taxpayers with sales above Rs. 1.5 crore need to document monthly return.
GSTR 1 due date having Turnover of more than 1.5 crores for the month of Nov 2020 is extended on 11th December 2020.
GSTR 1 due date having Turnover of more than 1.5 crores for the month of Oct 2020 is extended on 11th Nov 2020.
GSTR 1 due date having Turnover more than 1.5 crores for the month of Sep 2020 is extended on 11th October 2020.
GSTR 1 last date (turnover up to 1.5 crores) for the period of Quarterly January –March 2021 is extended on 13th April 2021.
GSTR 1 last date (Turnover up to 1.5 crores) for the month of Quarterly October-December 2020 is extended on 13th January 2021
GSTR 1 last date (turnover up to 1.5 crores) for the period of Quarterly July–September 2020 is extended on 31st October 2020.
GSTR 1 last date (turnover up to 1.5 crores) for the period of Quarterly April–June 2020 is extended on 3rd August 2020.
GSTR 1 last date (turnover up to 1.5 crores) for the period of Quarterly January–March 2020 is extended on 17th July 2020.
Late Fees for not documenting GSTR-1 is Rs. 200 every day of postponement (Rs. 100 according to CGST Act and Rs. 100 according to SGST Act.
The late expenses will be charged from the date after the due date.
As per the Latest Update, the late fees have been diminished to Rs. 50 every day and Rs 20 every day (for nil return)
Every registered individual is needed to document GSTR-1 independent of whether there are any exchanges during the month or not.
The following registered people are excluded from filing the return:
Input Service Distributors
Composition Dealers
Suppliers of online data and information access or recovery services (OIDAR), who need to pay tax themselves (according to Section 14 of the IGST Act)
Non- occupant available individual
Taxpayer subject to gather TCS
Taxpayer subject to deducting TDS
13th January 2021 for October-December 2020 (Upto INR 1.5 crore)
11th December 2020 for November 2020 (More than INR 1.5 Crore)
The GSTR 1 form is a return form for the standard citizens who need to document details of outward supplies on each 11th of next month for those who cross the turnover more than 1.5 crores yearly.
The citizens who are under as far as possible to 1.5 crores should document quarterly return.
The taxpayer can download the GSTR 1 form in PDF design from the site.
Every enlisted citizen will have to submit the total details of deals for example outwards supplies in the GSTR-1 form. As far as possible for documenting up GSTR-1 form is inside 11 days from the end of succeeding month for regular taxpayers.
The Indian government likewise delivered a documenting aide of GSTR 1 return form in a PDF configuration to support citizens and independent companies
Login to the GST Portal.
Go to Services. In the drop-down snap-on Returns > Returns Dashboard.
This will take you to the Return documenting page. Starting From the drop select the financial year and the month for which you need to record the return. Snap-on Search
There are 2 choices that a return filer has here – Prepare the return online or offline. Let us investigate the way toward setting up the return online first. Snap-on Prepare online.
Go to Details of outward supplies of goods or services. Following details should be filled.
Click on Add Invoice
You will be diverted to a page where you can see the summary of all the invoices entered. You can alter/erase solicitations
Click the BACK button to return to the Invoices – Receiver-Wise-Summary page. You can add a receipt of a specific receiver by tapping on receiver details and tapping on the add receipt button at the lower part of the page.
Click on return to go back to the GSTR-1 page. You will see that the B2B Invoices tile in GSTR-1 reflects the number of solicitations added alongside Total Invoice esteem, Total available worth, and absolute assessment risk.
Go to the 9B – Credit / Debit Notes (Registered) tile.
On the outline, page click on Add Details to add Credit or Debit Note.
Click on the back button to return to the GSTR-1 page. You will see the outline of all the debit notes/ credit notes/ refund vouchers added.
Go to the 11A(1), 11A(2) – Tax Liability (Advances Received) tile
Click on the tile Documents Issued
Click on spare once all the archive subtleties are entered.
Once all the subtleties have been entered the return needs a presentation and can be submitted online.
27 Nov
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