Technology: GSTR-1

What is GSTR-1?

Form GSTR-1 is a return statement in which a regular dealer needs to capture all the outward supplies made during the month or a quarter. In simple words, GSTR-1 is a return in which details of sales and other outward supplies needs to be captured.

While GSTR-3B is a monthly self-assessed return, you need to file GSTR-1 with outward supplies details that substantiate the liability declared in GSTR-3B.

GSTR-1 due date

The due dates for GSTR-1 are based on the turnover. Basis the business turnover, GSTR-1 returns needs to be filed either on the monthly or quarterly basis.

Businesses with turnover of up to INR 1.5 crore will be allowed to file quarterly return other businesses with a turnover of above INR 1.5 crore must file monthly returns.

GSTR-1 Form and Format

Form GSTR-1 is a statement in which a regular dealer needs to capture all the outward supplies made during the month. Broadly, the GSTR 1 format requires - all the outward supplies made to registered businesses (B2B) to be captured at invoice level, and supplies made to unregistered business or end consumers to be captured at a rate-wise level. However, in certain exceptional scenarios, even B2C transactions are required to be captured at the invoice level.

Form GSTR-1 contains 13 tables in which the outward supplies details needs to be captured. Based on the nature of business and the nature of supplies effected during the month, only the relevant tables are applicable, not all. The GSTR-1 format in GST PORTAL is as follows: