How to file GSTR1 sale tax return of outward supplies of goods services online – gst full form:
How to file GSTR1 sale tax return ? if you have this question in you mind, then you are at right place. here we are going to tell you all the steps that tell you How to file GSTR1 sale tax return. GST return date: GSTR1 is the GST return form that should be submit before 10 of subsequent month.
what is gstr1 ?
GSTR1 is a monthly statement that contain outward supplier of goods and services. It is submitted by registered dealer under gst tax act.
– the monthly outward services and supplies are submitted on gst website.
Is GATR1 filling is Mandatory by all registered GST dealer?
Yes, GSTR1 filling is mandatory for all the register GST dealer. Even if, dealer do not have sale turnover for that particular period, they have to fill ‘NIL’ GST return.
There are some dealers who does not require GSTR1 filing:
– input service distributor require to file GSTR6 return.
– non resident taxable person have to fill GSTR5 return .
– GSTR4 is filled by dealers who are under composition .
– tax deductor at source. They have to fill return under GSTR7.
– GSTR8 is filled by tax collector at source.
Rules regarding extension of date in gst:
If there is extension of date, then you have to file GSTR B3 form instead of GSTR1.
How should i prepare GSTR1 ?
GSTR1 can be made by following 3 ways.
1. Register dealer can prepare GSTR1 by doing online entry. Here, you have tp upload invoice of of outward services and goods.
2. You can also use GST offline mode for preparing GSTR1. Here, you have to make data of invoice of services and goods by using return offline tool.
3. There are another way for submitting GSTR1 return. Here, you can take help of third party application like ASPs ( application service provider) and GSPs GST suvidha providers.
Information that is needed while filing GSTR1:
Below are list of information that you should file while summiting GSTT1 return.
1. All the Register dealer GST number to whom you have purchase goods and services.
2. Invoice detail of all those unregistered dealer whom invoice value is greater than 250000 rupees.
3. All the debit and credit notes detail that are issued by supplier against invoices.
4. Export service and goods details.
5.there should be summaries invoice detail of unregister dealers.
6. There should be short summary of advance that is taken for future supplies of goods and services by the parties.
7. Detail of non GST supplier or exempted good under GST tax.
8. Summary of outward invoices in in formats of SAC/ HSC wise.
Information needed while submitted GSTR1 return online of outward goods and supplier of services:
1.first of all dealers should register their company under GST act. They should have active GSTIN for filing GSTR1 return.
2. taxpayer or dealers should have valid login I’d and password for logging into GST online portal.
3. Digital signature (DSC) is mandatory for filing GSTR1 return. Taxpayer should have non expired and valid DSC.
4. DSC should be class 2 and 3. It should be registered in GST portal within your company account for whom your are going to file GSTR1 return.
4. Dcs dongle should be connected with the computer system by which GSTR1 return is submitted. it is mandatory for public company , private limited company, partnership company etc.
6. If you submit GSTR1 without electronic sign up, it will considered as not filed.
What are the dues date for filing GSTR1 Rreturn?
Following are the due date of filing GSTR1 return:
– return will be sumbinted before 10 of next month.
Example : GSTR1 return of September 2017 will be submitted before 10th of November 2017.
– turnover of the caomony in table 3 of GSTR1 return is entered manually. But next year in 2018, it will be update automatically from GST portal website. It is auto calculated on the basis of the returns that you will file in 2017.
What is invoice value in GSTR1 return?
The invoice value in GSTR1 return is the value that includes taxes.
– taxpayer can gives and enter both the information about goods and services in the same invoice.
Various parts of GSTR1 Return:
1. B2B supply – ( Business to business) : it is total turnover amount of goods and services that is done between two businesses.
2. B2c supply – ( business to cumsumer): it refers the total sale amount of goods and services that is done by a register dealer to a unregister buyer.
3. You have to show debit notes in the GSTR1 return in the month in which they are issued by the supplier.
4. Debit notes is a document that is issued by the supplier when the actual invoice is higher than issued invoice. In simple word, you have issued a low valued invoice to the client. Now, you can adjust the difference amount with issued debit notes to the client. Debit notes are shown in GSTR1 Return in the month of when debit notes are issued.
5. Credit notes is the statement that is issued when invoice value is higher than actual value. KT may be happen when customer return the goods to supplier. When there are deficiency in the services and goods that is given to customer. Credit notes are shown in return in the month when they issued.
6. If supplier of goods and services are shown in return in consolidate manner, then there are not need of showing debit and credit notes in GSTR1 return. You have to show supplies of goods and services in consolidate manner after deducting debit or credit notes amount from the invoices.
7.supplier have to show advance receipt amount that is given by customer or receiver of goods and services. Receipt amount have to show in GSTR1 return in the month when payament is received.
8. This receipt amount that is shown in GSTR1 it the net off amount of invoice issued and value reported in the same return.
9. The taxpayer have to declare the advance that have to adjusted in the month when received. The difference in tax amount can be adjusted in advance adjustment table of GSTR1 Return.
what is the treatment of Export in GSRT1 Return?
Export supplies of goods and services are treated as zero rated inter- state supplier. Now, we are going to know about treatment of GST tax in the case of export of goods and services.
In the case of export of goods and services , exporter are 2 option to treat GST tax .
1. Taxpayer can export the goods without payment of GST and then claim the amount against the export made.
2. The exporter can pay the amount of IGST and claim the tax amount later.
3. Taxpayer can furnish detail of export invoices in the GSTR1 return without mentioning the shipping invoice number and date. It is the case when shipping bill detail is not available by the exporter.
4. If the taxpayer receives shipping bill information after submitting GSTR1 return, then he can show shipping bill information in the amendment section of GSTR1. He have to declare it in the month when he receive invoice in GSTR1 Return form.
What is the treatment of supply of eCommerce website in GST?
Ecommerce website owner have to show all taxable supplies of goods I’m GSTR1 returm.
What is Reverse charge mechanism in GST?
Reverse charge mechanisms are applicable on those goods and services that exceed threshold of 5000 rupees.
-It mean you have to pay the GST tax if you are dealing with unregister dealer who done transaction above 5000 rupees.
– Because he is not paying GST tax due to not having GST registration number.
– All the detail of purchase from unregistered dealers should be fill in GSTR2 return form.
How should I upload invoice detail?
Taxpayer can fill invoice detail anytime during the tax period. But it is seen that mostly people fill invoice detail during the time of filing GSTR1 return. It is the only reason that become the cause of slow server.
Example : let’s take October as a tax period for you. In this case, you can upload invoice from 1 October to 10 November.
– in case of late filing of GSTR1 return, you can upload invoice after 15 November in above situation.
– taxpayer can delete or edit boll anytime till the filing GSTR1 Return.
– the submitted invoice is a draft version that cab be change as per requirement before submitting GSTR1 return.
Rules regarding invoice in GST:
-GST portal will not accept sublicate invoice number for a particular GSTIN for a financial year.
– GST portal will not accept sublicate invoice and provide validation error while filing GSTR1 return online.
– taxpayer may have multiple invoice series as per his requirement in a financial year. There is no limit of number of multiple series in GST tax rules.
– there is rule regarding length of invoice number. It must be under 16 character and should use only alphabet, dash, hash, number and special character.
How should I file GSTR1 return?, if company is cover under composition scheme.
If your company cover under composition scheme , the. You have to file GSTR3 return. The due date of filing of GSTR3 return is 20th of subsequent month.
– normal tax payer opt for composition scheme, the GSTR1 return is available for the period till company is normal taxpayer.
– normal taxpayer has to pay his due liability of tax.
How can I track submission status of GSTR1 Return?
– if your GSTR1 return is successfully submitted, then you will ARN ( application reference number) number that will ensure the success of return filing.
– a sms and email of success of submitted return will be also send to the authorized signatory.
-if the taxpayer fails to submit GSTR1return successfully, then we will get notice as return defaulter in formats of 3A.
What is the requirement of filing GSTR1 return ?
The following are the requirement of filing successful GSTR1 return online by GST portal.
– firstly taxpayer has to validate the GSTIN number of client on GST portal, then invoice should be upload on GST portal website ( https://www.gst.gov.in/ ) .Otherwise, system will give validation error.
– all the value in invoice like taxable value , invoice value after tax amounts to be shown upto 2 decimal space.
– taxpayer cannot file GSTR1 return before end of current tax period.
Common Full form term in GST:
gst full form – goods and services tax.
GSTIN full form- goods and service tax identification number.
UIN full form- unique identification number.
UQC full form- Unit quantity code.
POS full form- place of supply.
Total turnover of taxpayer of the preceding financial and first quarter year of current financial year will be shown in table 3. This information of preceding financial year is shown only one time. Next year turnover will be calculate with the information that are submitted by taxable as sale tax return for last year. Invoice level information should be show as per supply type.
1. B to B supply:
All B to B supply , invoice information , rates, quantity ec must upload in table 4 whether it is inter state or intra state. Even if some supply that is under reverse mechanism should mention in the same table number 4 of GSTR1 return. But there is one things that you should keep in mind that all the information about outward supply of goods should be mention on septate table.
2. B to C supply:
All the supply from B to C should be mention in the table. Here invoice value is more than 2,50,000/- rupees. You have to fill all the information of invoice like invoice rate.
But if the invoice value is less than 250000/- rupees whether it is inter state or intra state, it should be fill in table 7 of GSTR1 return form.
6. Supply out of India or export out:
Export out information of goods have to mention in table 6. Even if export is deemed to consider. Table 6 will keep information about shipping and its date. If you do not have information about shipping then don’t worry. GST portal will accept the it. What you have to do is that you have to furnish detail of shipping bill in 13 digits capturing code before claiming the refund or rebate against export of goods.
Invoice upload and other important information:
Here, we are providing some basic information about uploading invoice and other useful information.
1. Taxpayer can upload invoice information from 1st day of month of the tax period.
2. in this time, you have to upload invoice related to tax period or previous tax period.
3. Submitted invoice detail can be modified or deletes without any limit till submission. You have to also upload modify invoice detail. There are many feature in filing online GSTR1 return like you can download one receptionist detail in one way, all invoice detail can be download upload invoice detail summary with GSTIN can be download and the whole gst1 return is frozen when information about invoice are updated.
4.invoice of IGST and SGST, CGST is issued separately in the basis of state where the goods and services are consumed.
5.there should be separate invoice for reverse charge amount.
6. Routing off the tax liability is down at the time of filling GSTR3.