GSTR 1 - Online Monthly Return Filing, Procedure, Penalty & Due Date

What is GSTR-1?

A monthly or quarterly return that needs to be filed by any registered dealer is called GSTR-1. This generally consists of sales or outward supplies.

 Who Should file GSTR-1?

Detailed information in regard to outward supplies of both goods and services are required to be furnished by every registered person including casual registered person except the following person: -

• An Input Service Distributor
• A non-resident taxable person
• A person paying tax under the provisions of section 10, 51 and 52
• A supplier of online information and database access or retrieval services.     

When is GSTR-1 due?

Under Section 37(1) GSTR-1 is filed on or before the 10th day of the immediately succeeding month. In other words, we can say that GSTR-1 can be filed anytime between the 1st and the 10th day of the succeeding month.

• Extension of time limit by the commissioner – the Commissioner/Commissioner of State/Commissioner of UT GST can extend the date of submission of GSTR-1 for the specific reason that needs to be in writing or by notification and would be applicable for a specific class of taxable person.
• Details cannot be furnished from 11th to 15th of succeeding month- the registered person shall not be allowed to furnish the details of outward supplies that is from the 11th day to the 15th day of the month succeeding the tax period.

Note – For small taxpayers with an aggregate turnover of Rs. 1.5 crore, quarterly filing of GSTR-1 is allowed in order to ease the compliance requirements. However, taxpayers with an aggregate turnover of more than 1.5 crore GSTR-1 to be filed monthly.

GSTR-1 cannot be furnished before the end of the tax period which means that a taxpayer cannot file GSTR-1 before the end of the current tax period. QRMP scheme is implemented although, there are some exception to this –

1. Cancellation of GSTIN of a normal Taxpayer.
2. Casual taxpayers after the closure of the business.

Late fees and penalties

Late fees for not filing GSTR-1 are 200 per day of delay which constitutes Rs. 100 for CGST Act and Rs.100 for the SGST Act. However, in recent times for the pandemic following is the updated penalties and dates: - 

For taxpayers having an aggregate turnover of more than 1.5 crore rupees in the preceding year 

For Taxpayers whose aggregate turnover is not more than 1.5 crore for the preceding financial year

How can we help you?

At Online Legal India ™ accountant and tax consultants with an expertise in GST. We can help you save your late fines and penalties as it can be a burden for businessmen to carry out the operation of day to day and then find time in order to file returns. It is therefore advised to leave the return filing of GST to us as we will do it with care and diligence so that one doesn’t have to face the hassle of filing returns be it quarterly or monthly.