GSTR 1 Filing: Due Date, Format, Late Fee & Eligibility

GSTR 1 is a crucial GST return for businesses in India. This guide explains its meaning, due dates, format, filing process and penalties to help you stay compliant.

What is GSTR 1?

GSTR 1 is a GST return form used to report outward supplies or sales. It is filed monthly or quarterly depending on turnover. It ensures accurate tax reporting and feeds data into GSTR-3B for tax payment. Consistent and timely filing also helps businesses maintain clean financial records which can support eligibility when applying for a Business Loan or other credit facilities.

Also Read: What is Business Loan: A Complete Guide

Who Should File GSTR 1?

Every registered taxpayer under GST must file GSTR 1 except those under composition scheme, input service distributors, and non-resident taxable persons. Even if there are no sales, a nil return is mandatory.

GSTR 1 Due Date and Filing Frequency

Taxpayers with turnover above ₹5 crore must file monthly by the 11th of next month. Those under ₹5 crore can opt for quarterly filing under QRMP scheme. Missing deadlines attracts late fees and interest.

Format of GSTR 1: Understanding the Sections and Tables

GSTR 1 is structured into multiple sections and tables that capture different types of outward supplies made during a tax period. It includes tables for B2B invoices, B2C transactions, credit and debit notes, HSN wise summary of goods and services, advances received and any amendments to earlier returns. Some fields are auto populated based on previous filings or system data, while others require manual entry by the taxpayer to ensure accuracy. Understanding the purpose of each table helps businesses report sales correctly, avoid errors and maintain compliance with GST regulations.

How to File GSTR 1: Step-by-Step Process

• Prepare all sales invoices and supporting documents for the filing period.
• Log in to the GST portal using valid credentials.
• Upload invoice data through online entry or offline utility tools.
• Use JSON file upload to submit bulk invoices quickly.
• Validate all entries and generate a summary of outward supplies.
• Review errors or mismatches before final submission.
• Submit the return and download the acknowledgement for records.

Also Read: Why GST filing returns is crucial for eligible MSMEs

Revising GSTR 1 After Filing: Rules and Process

GSTR 1 cannot be fully revised once filed. Amendments can be made in the next period or through GSTR-1A before GSTR-3B submission. For example, incorrect invoice details can be corrected in the next return.

GSTR 1 Late Fee and Penalty: Calculation and Limits

A late fee is charged when GSTR 1 is not filed within the due date. The fee is ₹50 per day, split as ₹25 CGST and ₹25 SGST, in cases where there is taxable turnover, and ₹20 per day for nil returns. The total late fee is subject to a maximum cap as per the latest CBIC notifications which prevent excessive accumulation of charges. In addition to late fees, interest at 18 percent per annum applies on any unpaid tax amount from the date it becomes due until it is paid. Timely filing helps avoid these financial liabilities and maintains compliance under GST.

Common Errors and How to Avoid Them in GSTR 1 Filing

Errors include invoice mismatch, wrong HSN codes, and missing entries. Avoid mistakes by reconciling data, validating GSTINs, and reviewing summaries before submission.

Final Thoughts

Timely GSTR 1 filing helps businesses maintain compliance and avoid penalties. Consistent reporting also contributes to a stronger financial profile which can support eligibility when applying for a Business Loan. Applicants may use a Business Loan EMI Calculator to plan repayment schedules and manage cash flow effectively based on projected revenues.

Apply now for a Business Loan.

FAQs

Q.1. Is GSTR-1 filing mandatory even if there are no sales?

A. Yes, nil return is required.

Q.2. Can I file GSTR-1 after GSTR 3B?

A. Yes, but ensure to file it within the filing deadline.

Q.3. How to rectify mistakes after submitting GSTR-1?

A. You can amend it in the next return.

Q.4. What documents do I need to file GSTR-1?

A. To file a GSTR-1, you would need invoices and GSTIN details.

Q.5. What happens if I do not file GSTR-1 on time?

A. If you do not file GSTR-1 on time, a late fee and interest apply.

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