The Indian Government concerned with the GST and its mechanism is putting efforts day and night to resolve issues faced by the Taxpayers to comply with the law passed this year. It has been more than 2 months since the GST has been implemented in the country and yet First GST Return i.e., GSTR 1 – Return for Outward Supplies is not filed by taxpayers at large. The reason is not solo rather many factors are affecting this delay in the return filing such as Lack of Traffic handling capacity of the GST portal, lack of clarity and awareness by the GST Authorities, Lack of Understanding by the taxpayers, non-availability of the GST ready manpower in the market, businesses being non-technological, non-availability of the DSCs and many such reasons.
The due date of the captioned return has been postponed time and again. In the latest announcement by the Finance Ministry, the date for filing has been extended to file GSTR 1 for One Month i.e., up to October 10th for the month of July 2017.
Here we shall discuss the mechanism with visual aid for filing your GSTR 1.
GSTR-1 is a monthly return to be filled by every registered taxpayer. It consists of details of all the outward supplies made during the month. This return shall be used by the government to auto populate GSTR 3 for the taxpayer and GSTR 2A for taxpayers to whom supplies have been made.
In case there is no outward supply, NIL return has to be filled.
DUE DATE TO FILE GSTR-1
For the month of July 2017 due date shall be 10th October 2017
For the month of August, the notification is awaited from the government.
For other periods, date as notified earlier is 10th of the next month, however one may assume possibility of further notifications to communicate any other date, if any.
WHO SHALL & SHALL NOT FILE GSTR-1
Every registered person, except for the list given below, is required to file GSTR 1 irrespective of whether there are any transactions during the month or not.
The following registered persons are not liable to file GSTR-1:
1.Composition Scheme Dealers,
2.Non Resident Taxable persons,
3.Input Service Distributors,
4.Tax Deductor and Tax Collector, and
5. E-Commerce Operator.
HOW TO REVISE GSTR-1?
GSTR 1 once filed cannot be revised. Any mistake made in the return can be amended in the next month’s return. It means that if a mistake is made in July’s GSTR 1, rectification for the same can be made in August’s GSTR-1.
PROCEDURE OF FILING GSTR-1 ONLINE
Go to link https://www.gst.gov.in/
- The Taxpayer should be able to see the Login Option as depicted in the picture below.
2. Once this is clicked, the taxpayer shall enter his login credentials
3. Now the taxpayer should be able to see a dashboard giving him three options which would be
a) Return Dashboard
b) Create Challan, and
c) View Notices and Orders.
4. The return period has to be selected as shown below
5. Once the taxpayer selects the FY and month, he needs to mention:
a) Aggregate Turnover in the Preceding Financial Year, and
b) Aggregate Turnover during April to June, 2017
a. Other details in this part shall be auto populated.
b. Quarterly Turnover Information shall not be captured in subsequent returns. Aggregate turnover shall be auto-populated
6. Now the taxpayer shall provide the details of outward supplies in their respective categories.
Select Box 1 as shown in the picture below.
7. Taxpayer needs to select “Add Details” section to input the invoice details.
8. This shall contain all the supplies made to registered persons under GST including supplies made to SEZ but excluding supplies Exported.
9. Here as shown below, the taxpayer can mention the details of supplies made in one invoice at different rates.
12. Since the GST Act specifies that credit / debit note are to be issued only by the supplier hence, any such note issued to Registered Taxpayer Recipients have to be entered in this box as shown below.
The details relating to the field shown have to be entered for the relevant tax period.
a. Original Invoice number would mean the invoice against which this debit / credit note is being issued.
b. One has to select the reason for the note from the drop down list.
c. Here the last option “Pre GST Regime” would be ticked only if the supplies for which the debit / credit note is being issued were made before 01/07/2017.
13. Similarly in the next box, details of Debit / Credit note issued to the unregistered persons have to be entered.
Similar detail as that of the last box has to be entered except for the fact that here GSTIN of the recipient is not applicable since Un-registered.
14. For the taxpayers making Zero Rated Supplies i.e., Export of Goods or Services or both but not including Supplies made to SEZ since those supplies have already been entered in 1st Box, the details of such supplies will be recorded here.
15. The next section is for supplies made to Un-Registered for below INR 2.5 Lacs i.e., B2C (others).
Here only summary has to be provided with two parameters:-
a. Place of Supply wise (i.e., State wise), and
b. Rate wise.
16. For Nil rated, Exempt or Non GST supplies the Gross Amount of Supplies Made will be recorded in the next table as shown below.
17. Sine the advances are taxable in GST, one has to give summary of such advances received during the month against which the invoicing has not been done in the same month.
Here invoice wise detail is not required. Only Rate wise and Place of supply wise detail would be entered here as shown below.
18. For the advances that were taxed in the previous periods but Invoicing has been done in the current period, the details of such adjustments will have to be recorded here to skip the double liability i.e., at the time of Advance received and at the time of Invoicing done.
Again, only the summary with Rate specific and Place of Supply specific has to be disclosed.
19. HSN wise Summary of Outward Supplies- In this section the HSN summary has to be provided i.e., against a particular HSN what is the total quantity supplied, value, rate and type of tax.
Now one may inquire about the quantity that has to be entered in case of Services. Law or rules are silent on such issue but one may use No. of Invoices issued against such HSN to complete this section and moving ahead.
20. Documents that are issued during the period i.e., Invoices, Debit Notes, Credit Notes etc.
Following is the list available on the portal of the documents issued.
21. Now the GSTR summary may be generated from the box shown below. Also this summary helps to identify the errors and give a bird’s eye view for the complete GST Outward Supplies made during the month.
We expect this shall complete your GSTR 1. However we have identified that taxpayers are facing some difficulties even after completing this process. To name a few:-
Non- submission of GSTR 1 after entering all the details as required.
Error “Invoice already submitted” at the time of filing the return.
Invoice details not appearing after entering the same on the portal in the respective sheets.
Document details are not filled
Error in generating summary of GSRT-1.
IF THIS IS THE CASE WITH YOU TOO THEN PLEASE NOTE THAT THESE ARE THE SYSTEM ISSUES FOR WHICH THE DATE HAS BEEN EXTENDED FOR THE MONTH OF JULY UP TO 10TH OCTOBER 2017. THESE ERRORS SHOULD GET REMOVED TILL THEN.
ALL THE BEST | HAPPY FILING
For any further query please feel free to write to us or give us a call. We at Get Set are always ready to go one mile ahead for your satisfaction.