According to Model GST law, every registered taxable person is required to submit “Details of Outward Supplies” in GSTR-1. This return is required to be filed within 10 days from the end of the tax period. Read More
We discussed in our previous article about all the returns that are required to be filed under Goods and Services Tax. We also discussed different types of returns applicable on a specific taxable person such as Input Service Distributor, E-Commerce Operator etc.
Extending our discussion further, here we are detailing all these returns one after another. This will help you as an assessee under GST law on filing monthly returns.
According to Model GST law, every registered taxable person is required to submit “Details of Outward Supplies” in GSTR-1. This return is required to be filed within 10 days from the end of the tax period, or transaction month in simple words.
GSTR-1 has a total of 13 headings, the taxable person need not worry as most of these will be prefilled. Before we deep dive into various sections of this return, we need to understand certain terms, these are:
GSTIN – Goods and Services Taxpayer Identification Number
GDI – Government Department Unique ID where department does not have GSTIN
POS – Place of Supply of Goods or Services – State Code to be mentioned.
Below are the various section heading under GSTR-1:
GSTIN – Each taxpayer will be allotted a state-wise PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN). A format of proposed GSTIN has been shown in the image below. GSTIN of the taxpayer will be auto-populated at the time of return filing.
Name of the Taxpayer – Name of the taxpayer, will also be auto-populated at the time of logging into the common GST Portal.
Gross Turnover of the Taxpayer in the previous FY – This information is required to be filed only in the first year of GST implementation. Next year onwards it will be auto-populated as carried forward balance of the previous year.
Tax Period, Month, Year – ATaxable person is required to select from a drop down the relevant month and year respectively for which GSTR-1 is being filed.
Taxable Outward Supplies to a Registered Person – All taxable supplies are required to be filled in this section. Supply here also includes any supply under reverse charge mechanism. A taxpayer under GST law will have the option to furnish the details of nil rate and exempt supply as well. In the case of inter-state, only IGST would be filled. Similarly, in the case of intra-state supplies, CGST and SGST would be filled.
Taxable Outward Supplies to a Consumer – Under this heading, the taxpayer is required to fill in details of inter-state supplies made to end consumer. Any such supply of Invoice value more than Rs. 2.5 lakh is mandatorily required. However other supplies are optional.
Taxable Outward Supplies to Consumer (Other than 6 above) – This is a bucket section wherein any outward supply which is not covered under heading 5 or 6 can be furnished here.
Details of Credit/Debit Notes – Under this heading, the taxpayer is required to furnish details of all debit/credit notes issues as part of taxable supply, in a tax period for which return is filed.
Amendments to Details of Outward Supplies of Earlier Tax Periods – Any kind of amendment made in current tax period with respect to earlier tax period is required to be furnished in this section. In simple words, if a taxpayer is filing a return for the month of October, any change in GST invoice other than by way of debit/credit note against pertaining to a period prior to October is required to be furnished in this head. This will also include post supply discounts.
Nil Rated, Exempt, and Non-GST Outward Supplies – This head will include all kind of Nil Rated, Exempt and Non-GST Supplies. Supplies under GST, be it inter-state or intra-state supplies are required to be furnished here. If Nil Rated and Exempt supply have been furnished in any of the heading under 5, 6, or 7, the taxpayer can furnish only Non-GST supplies here.
Supplies Exported – All export supplies must be reported in this section. The taxpayer is also required to furnish eight digit HSN code against each export supply.
Tax Liability of Amount Received in Advance – Any kind of advance amount received against a supply to be made in future must be reported in this section. Registered person is required to pay GST on such advance as tax liability for the period in which such advance is received.
Tax Already Paid – The taxpayer is required to furnish details of prepaid taxes here. This includes the scenario when advance had been received during earlier tax period and tax was paid during that month’s return filing. However, the invoice has been generated in the current tax period
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