Basic fundamentals of GSTR-1
1.
What is GSTR-1?
GSTR-1
is a monthly or quarterly return that is to be filed by every registered Manufacturer/Trader/Dealer.
Taking GSTIN registration is mandatory whose Turnover exceeds 20 Lakh per year.
This Return contains details of all outward supplies i.e Local sales within
India & Export.
The
return contains total 13 sections.
2. GSTR-1 due dates?
The
due dates for GSTR-1 are based on your turnover.
Businesses
with sales of upto Rs. 1.5 crore has the option to file GSTR-1 returns on a quarterly
basis.
All Other
taxpayers with sales above Rs. 1.5 crore have to file monthly GSTR-1 return.
Businesses
having annual Turnover up to Rs 1.5 crore can opt for quarterly filing
|
Quarter |
Due date |
|
Jan-Mar 2020 |
30th April 2020 |
|
Apr-Jun 2020 |
31st July 2020 |
|
Jul-Sept 2020 |
31st Oct 2020 |
Monthly GST Return
Businesses
having Annual Turnover of more than Rs 1.5 crore must file GSTR-1 on monthly
basis.
|
Period |
Dates |
|
February 2020 |
11th March 2020 |
|
March 2020 |
11th April 2020 |
|
April 2020 |
11th May 2020 |
|
May 2020 |
11th June 2020 |
|
June 2020 |
11th July 2020 |
|
July 2020 |
11th August 2020 |
|
August 2020 |
11th September 2020 |
|
September 2020 |
11th October 2020 |
3.
Who should file GSTR-1?
Every
registered person is required to file GSTR-1, whether there are any
transactions during the month or not. IF there is no transaction in a
month, GSTR-1 is filed as NIL return.
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
4.
How to revise GSTR-1?
You
CANNOT !
Under GST, any Return once
filed cannot be revised. There is NO provision for revising the return. BUT Any
mistake made in the return can be rectified in the next Return periods
(month/quarter). It means that if a mistake is made in May-2020 GSTR-1,
rectification for the same can be made in June’s GSTR-1.
5.
Late Fees and Penalty
Now
there is Late Fees for not filing GSTR-1 i.e. Rs. 200 per day of late filing
(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.
For example, the due date for
May-2020 GSTR-1 is 10.06.2020. If you filed on 12.06.2020 then late fee is
charged for 2 days. i.e. 200 x 2 = Rs. 400/-. So BE diligent in Filing your
Returns in TIME.
As per Latest Update by GST Department, the late fees have been
reduced to Rs. 50 per day for normal and Rs 20 per day for NIL return.
Latest Updates on GSTR-1 Due Dates
Update as on 3rd April 2020
Pls
See HERE !
HERE !
General queries on GSTR-1
A.
Should I file GSTR-1 even if there are no sales in a month?
YES, filing GSTR 1 is
mandatory. If your total sales for a year is less than Rs 1.5 crore you can
file the GSTR-1 return on a quarterly basis.
B. Can I upload invoice only
while filing the return?
You
can upload invoices anytime.
However I do not advise to
upload it regularly. Prepare & check your returns Properly at the end of
month or quarter for any type of Errors or pendency. Once GSTR-1 is Finalized,
Upload it on the portal. This method ensures that NO Invoice/Credit Note/Debit Note
is left behind.
C.
Can I change a bill uploaded on GST?
After
“UPLOADING” bills on GSTN Portal, you can make changes multiple times before
submission. There is no restriction on changing invoices after uploading them. Once
the Return is submitted the numbers are frozen.
D.
Should I file GSTR-1 even after filing GSTR-3B?
YES. GSTR-3B
is a simple return to be filed by Every Taxpayer on a monthly basis. You still
need to file the GSTR-1 return on a monthly or a quarterly basis as
applicable to you.
E. I
have opted for composition scheme. Should I file GSTR-1?
NO. GSTR-1
is NOT applicable to you. If you opt for composition scheme you need to file GSTR-4(now
CMP-08) on a quarterly basis. Finance
Ministry of India has permitted the composition scheme taxpayers to file a
self-assessed tax return in
F. Can some amendments be made to details already filed in GSTR-1? If yes, then what is the filing period to make amendments?
YES, amendments
can be made to already filed GSTR-1 returns of a particular tax period(s) by amending
the details of that particular bill in the next month return.
For example: one person has rendered
services or sold goods to Mr. ABC of Maharashtra for INR 2,50,000 on 30th May
2020 and declared in the GSTR-1 of May 2020.
Now
he realised that he made a mistake in the date of invoice (he put 30.04.2020),
so he can make an amendment with correct invoice date i.e. 30th May 2020 when
he files GSTR-1 for June 2020 in the B2B Amendments (9A) Invoice section of June 2020 return.
This
amended invoice can be shown in the GSTR 1 of June 2020
G. What should the ‘Revised
date’ be in the amended invoice?
The
‘Revised date’ to be mentioned in an amended invoice must not be later than the
last date of the original invoice tax period.
For
example, if an original invoice dated 30/05/2020 is being amended in June then
the revised invoice date cannot be later than 31/05/2020.
H. What
are the amendments not admissible or not allowed?
Following
details cannot be amended at Invoice level :
a).
Changing a tax invoice into bill of supply
Please Note: However you may amend & link any other invoice
for the same GSTIN.
b)
Place of Supply
c)
Reverse charge applicable or Not.
d). If
the receiver of goods has taken action on the invoices i.e. accepted or modified
and the supplier accepts such modifications in GSTR-1A, he will not be allowed to amend those invoices. The reason is
that those invoices will automatically
get reflected in the GSTR-1 of the supplier in the month of such acceptance under the relevant amendments table.
Following details cannot be amended at summary level
1. Nil Rated
2. HSN summary of Outward supplies
3. Cannot add a new place of supply
Note:
However, you can replace the existing place of supply with another place of
supply with some limitations. Refer the examples given below
I. What are the amendments
allowable with respect to the Place of supply?
With
respect to Place of Supply, note the following:
1. You can amend the original
place of supply for a transaction.
2. You cannot add any new
place of supply to a transaction.
Let
us understand the above with the following scenarios:
|
Nature |
Place of supply |
Rate of Tax |
Taxable Value |
Amendment |
|
Original |
Rajasthan |
18% |
10,000 |
Allowed |
|
Amended To |
Bihar |
18% |
10,000 |
|
|
Original |
Rajasthan |
28% |
20,000 |
Allowed |
|
Amended To |
Bihar |
18% |
20,000 |
|
|
Original |
Rajasthan |
5% |
20000 |
Allowed |
|
12% |
30000 |
|||
|
Amended To |
Bihar |
18% |
50000 |
|
|
Original |
Rajasthan |
18% |
50000 |
Allowed |
|
Amended To |
Bihar |
28% |
20000 |
|
|
Bihar |
12% |
30000 |
||
|
Original |
Rajasthan |
18% |
60000 |
Not Allowed |
|
12% |
40000 |
|||
|
Amended To |
Maharashtra |
28% |
50000 |
|
|
Bihar |
12% |
50000 |
||
We
can see that in all those cases where the original place of supply was amended
from Rajasthan to Bihar (whether or not there was a change in tax rates or
invoicing), the amendment is allowed in that scenario.
But
in the last case where in addition to Bihar, Maharashtra is also added as a
place of supply (irrespective of change in tax rates or invoicing) amendment is
not allowed.
J.
Where to show the amended invoices in GSTR-1?
Declare the amended invoices or details in the tax period in
which the amendment takes place as follows:
Also note That these Amendments
are allowed only ONCE. You cannot amend is again in next month.
|
Sl. no. |
Type of
Amendment |
Explanation |
|
1 |
B2B Amendments (9A) |
Amendments made in the invoices
already issued earlier must be reported here. These are the invoices for taxable supplies made to registered
taxpayers including supplies made to SEZ/ SEZ Developers with or without
payment of taxes and deemed exports. |
|
2 |
B2C Large Amendments (9A) |
Amendments in the original invoices already issued must be
mentioned here These reflect original invoices issued for taxable outward supplies
made to unregistered taxpayers where 1. Supply is made interstate and 2. Total invoice value is more than Rs 2,50,000/- |
|
3 |
Credit/Debit Notes (Registered) Amendments(9C) |
Credit or debit note amended against already issued Credit
or debit note reported under B2B (i.e where supply is made to registered
taxpayer), will be reported here. |
|
4 |
Credit Debit Note (Unregistered) Amendments(9C) |
Amended Credit or debit note issued against original Credit
or debit note reported under B2C Large and Export Invoices section, will be
reported here. |
|
5 |
Export Invoices Amendments(9A) |
Amended invoices issued against already issued original
invoices must be reported here. Export invoices includes 1. Export under bond/LUT-If you are exporting under bond or letter of
undertaking and not paying IGST. 2. Export with IGST-If you are exporting without furnishing
bond/letter of supply and paying IGST on such supply (It excludes deemed exports & supply to SEZ) |
|
6 |
B2C Others Amendments (10) |
Amendments made in the invoices already issued earlier must
be reported here. These are all those invoices not covered under 1. B2B 2. B2C Large 3. Exports |
|
7 |
Advances Received (Tax Liability) Amendments (11(2)) |
Any amendments made to the advances received in previous
tax periods has to be declared here. |
|
8 |
Adjustment of Advances Amendments (11(2)) |
Any amendments made to the advances adjusted in previous
tax periods has to be declared here. |
Reviewed by GST accountant
on
June 08, 2020
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