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What is GSTR-1? | How to file GSTR 1

Goods and services tax (gst) has revolutionized the taxation system in india by replacing multiple indirect taxes with a unified tax structure. under the gst regime, businesses are required to file various returns to comply with tax regulations. one such crucial return is gstr-1, which plays a pivotal role in the gst compliance framework. – powerpoint ppt presentation.

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• Goods and Services Tax (GST) has revolutionized the taxation system in India by replacing multiple indirect taxes with a unified tax structure. Under the GST regime, businesses are required to file various returns to comply with tax regulations. One such crucial return is GSTR-1, which plays a pivotal role in the GST compliance framework.
• GSTR-1 is a monthly that needs to be filed by every registered taxpayer. Comprising an intricate tapestry of commercial transactions, this document intricately weaves together a comprehensive account of every product or service flowing outward from the taxpayer's realm during a designated tax period. Outward supplies refer to the sales or transactions where goods or services are provided to other businesses or consumers. The GSTR-1 return includes comprehensive information about these transactions, facilitating transparency and smooth tax administration.

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Understanding GSTR-1: A Comprehensive Guide for GST Taxpayers

Table of Contents

Introduction to GSTR-1

GSTR-1 is a monthly or quarterly return that needs to be filed by registered taxpayers under the Goods and Services Tax (GST) system in India.

The purpose of this return is to provide details of all outward supplies or sales made by the taxpayer during the return period. In this blog, we will discuss everything you need to know about GSTR-1, including its due dates, format, and filing procedure.

Due dates for filing GSTR-1

The due date for filing GSTR-1 depends on the turnover of the taxpayer. For taxpayers with an annual turnover of up to Rs. 1.5 crores, GSTR-1 needs to be filed on a quarterly basis, while for taxpayers with a turnover of more than Rs. 1.5 crores, it needs to be filed monthly. The due date for filing GSTR-1 is the 11th day of the following month for monthly filers, and the 13th day of the following month for quarterly filers.

Format of GSTR-1

GSTR-1 is divided into 13 sections, each of which requires the taxpayer to provide specific details related to their sales. The sections are as follows:

• GSTIN : The GSTIN of the taxpayer filing the return.
• Name of the taxpayer : The legal name of the taxpayer.
• Outward supplies made to registered taxpayers : Details of all sales made to other registered taxpayers.
• Outward supplies made to unregistered taxpayers : Details of all sales made to unregistered taxpayers.
• Zero-rated supplies and deemed exports : Details of all zero-rated supplies made by the taxpayer, including exports and deemed exports.
• Advances received : Details of all advances received against future supplies.
• Adjustments of advances: Details of any adjustments made to advances received in previous periods.
• HSN summary of outward supplies : A summary of all sales made by the taxpayer, classified according to the Harmonized System of Nomenclature (HSN).
• Documents issued : Details of all invoices and other documents issued during the return period.
• Amendments to taxable outward supply details : Details of any amendments made to previously filed GSTR-1 returns.
• Credit/debit notes issued : Details of any credit or debit notes issued during the return period.
• Nil rated, exempted and non-GST outward supplies: Details of all sales made that are either exempted from GST or not taxable under GST.

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Filing procedure for GSTR-1

GSTR-1 can be filed online through the GST portal. To file GSTR-1, the taxpayer needs to log in to the GST portal using their credentials and navigate to the ‘Returns’ section. From there, they need to select the GSTR-1 form and fill in the required details for each section.

Once all the details are filled in, the taxpayer needs to review the return and submit it. After submission, an acknowledgment receipt will be generated, which can be downloaded for future reference.

Read Other Useful Blogs:

• GST Registration in India
• Basics Of Balancing Sheet

Importance of GSTR-1

GSTR-1 is an essential return that provides the government with detailed information about the sales made by registered taxpayers. It helps the government in tracking the tax liability of the taxpayers and ensures that they are paying the correct amount of tax. GSTR-1 also plays a crucial role in the input tax credit (ITC) mechanism, as it provides the details of the taxes paid by the buyer on their purchases.

The buyer can claim ITC on the basis of the details provided in GSTR-1, which makes it important for the seller to provide accurate details of their sales.

Penalties for late or incorrect filing

The government has introduced penalties for late or incorrect filing of GSTR-1 to ensure that taxpayers file their returns on time and provide accurate information. If a taxpayer fails to file GSTR-1 within the due date, a late fee of Rs. 50 per day will be charged for each day of delay, subject to a maximum of Rs. 5,000.

In case the taxpayer has made any errors or omissions in the return, they can rectify the same in the subsequent return. However, if the errors or omissions are not rectified in the subsequent return, the taxpayer may be liable to pay a penalty of Rs. 10,000 or 10% of the tax due, whichever is higher.

Amendment of GSTR-1

If a taxpayer finds any errors or omissions in their previously filed GSTR-1 returns, they can amend the same in the subsequent return. However, amendments to GSTR-1 can only be made for a period of up to two years from the date of the relevant annual return.

The taxpayer needs to file an amendment return for the relevant period and make the necessary corrections. The amended return will overwrite the original return and the changes made will be reflected in the GST ledger.

GSTR-1 is an important return that needs to be filed by registered taxpayers under the GST system in India. It is crucial for taxpayers to ensure that they file GSTR-1 on time and provide accurate details of their sales to avoid any penalties or legal consequences.

By understanding the due dates, format, and filing procedure for GSTR-1, taxpayers can ensure that they comply with the GST regulations and avoid any unnecessary hassles. It is also important for taxpayers to keep themselves updated with any changes or amendments in the GSTR-1 return to ensure that they file their returns correctly and avoid any penalties.

Frequently Asked Questions (FAQs)

Q.1) What is GSTR-1?

GSTR-1 is a monthly or quarterly return that is filed by registered taxpayers to provide details of their outward supplies (sales) made during the relevant period.

Q.2) Who is required to file GSTR-1?

All registered taxpayers who have an annual turnover of more than Rs. 1.5 crore are required to file GSTR-1 on a monthly basis. Taxpayers with an annual turnover of up to Rs. 1.5 crore can choose to file GSTR-1 on a quarterly basis.

Q.3) What is the due date for filing GSTR-1?

The due date for filing GSTR-1 is the 11th of the following month for monthly filers and the 13th of the following month for quarterly filers.

Q.4) What are the details required to be furnished in GSTR-1?

The details required to be furnished in GSTR-1 include the taxpayer’s GSTIN, the period for which the return is being filed, the details of outward supplies, details of credit or debit notes issued, and the details of advances received.

Q.5) Is it mandatory to file GSTR-1 even if there are no outward supplies during the relevant period?

Yes, even if there are no outward supplies during the relevant period, it is mandatory for registered taxpayers to file a nil return in GSTR-1.

Q.6) Can the details furnished in GSTR-1 be amended?

Yes, if a taxpayer finds any errors or omissions in their previously filed GSTR-1 returns, they can amend the same in the subsequent return.

Q.7) What is the penalty for late or incorrect filing of GSTR-1?

If a taxpayer fails to file GSTR-1 within the due date, a late fee of Rs. 50 per day will be charged for each day of delay, subject to a maximum of Rs. 5,000. In case of errors or omissions in the return, a penalty of Rs. 10,000 or 10% of the tax due, whichever is higher, may be levied.

Q.8) Can GSTR-1 be filed manually?

No, GSTR-1 cannot be filed manually. It can only be filed online on the GST portal.

Q.9) Is it necessary to file GSTR-1 for every state in which the taxpayer is registered?

No, the taxpayer needs to file GSTR-1 only for the state in which they are registered under GST.

Q.10) Can GSTR-1 be revised after filing?

No, GSTR-1 cannot be revised after filing. However, if a taxpayer finds any errors or omissions in their previously filed GSTR-1 returns, they can amend the same in the subsequent return.

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GSTR-1 – Return Filing, Format, Eligibility & Rules

Updated on : Mar 27th, 2024

17 min read

GSTR-1 is a monthly/quarterly return that summarises all sales (outward supplies) of a taxpayer. You must make sure that a valid GSTIN is filled while entering sales invoice details. 

Basics of GSTR-1

What is gstr-1.

GSTR-1 is a monthly or quarterly return that should be filed by every registered GST taxpayer, except a few as given in further sections. It contains details of all outward supplies i.e sales. The return has a total of 13 sections , listed down as follows:

• Tables 1, 2 & 3: GSTIN, legal and trade names, and aggregate turnover in the previous year
• Table 4: Taxable outward supplies to registered persons (including UIN-holders) excluding zero-rated supplies and deemed exports
• Table 5: Taxable outward inter-state supplies to unregistered persons where the invoice value is more than Rs.2.5 lakh
• Table 6: Zero-rated supplies as well as deemed exports
• Table 7: Taxable supplies to unregistered persons other than the supplies covered in table 5 (net of debit notes and credit notes)
• Table 8: Outward supplies that are nil rated, exempted and non-GST in nature
• Table 9: Amendments to outward supplies that are taxable and reported in table 4,5 & 6 of the earlier tax periods’ GSTR-1 return (including debit notes, credit notes, refund vouchers issued during the current period)
• Table 10: Debit note and credit note issued to unregistered person
• Table 11: Details of advances received or adjusted in the current tax period or amendments of the information reported in the earlier tax period.
• Table 12: Outward supplies summary based on HSN codes
• Table 13: Documents issued during the period.
• Table 14: For suppliers - Reporting ECO operators' GSTIN-wise sales through e-commerce operators on which e-commerce operators are liable to collect TCS u/s 52 or liable to pay tax u/s 9(5) of the CGST Act
• Table 14A: For suppliers - Amendments to Table 14
• Table 15: For e-commerce operators - Reporting both B2B and B2C, suppliers' GSTIN-wise sales through e-commerce operators on which e-commerce operator must deposit TCS u/s 9(5) of the CGST Act
• Table 15A: For e-commerce operators - Table 15A I - Amendments to Table 15 for sales to GST registered persons (B2B) Table 15A II - Amendments to Table 15 for sales to unregistered persons (B2C)

When is GSTR-1 due?

The due dates for GSTR-1 are based on your aggregate turnover . 

Businesses with sales of up to Rs.5 crore have an option to file quarterly returns under the QRMP scheme and are due by the 13th of the month following the relevant quarter.

Whereas, those taxpayers who do not opt for the QRMP scheme or have a total turnover above Rs.5 crore must file the return every month on or before the 11th of the next month.

Note: Taxpayers cannot file GSTR-1 beyond three years from the relevant due date of such GSTR-1 for a tax period as per amendment to Section 37 of the CGST Act.

Who should file GSTR-1?

Every registered person is required to file GSTR-1 irrespective of whether there are any transactions during the period or not. For nil GSTR-1 filers, there is a facility to file through an SMS that began from the 1st week of July 2020. The following registered persons are not required to file GSTR-1:

• Input Service Distributors
• Composition Dealers
• Suppliers of online information and database access or retrieval services ( OIDAR ), who have to pay tax themselves (as per Section 14 of the IGST Act)
• Non-resident taxable person
• Taxpayer liable to collect TCS
• Taxpayer liable to deduct TDS

How to revise GSTR-1?

A return once filed cannot be revised under GST. Any mistake made in the return can be rectified in the GSTR-1 filed for the next period (month/quarter). It means that if a mistake is made in GSTR-1 of March 2024, rectification for the same can be made in the GSTR-1 of April 2024 or subsequent months.

Late Fees and Penalty

The following table explains the late fee to be charged (for other than nil GSTR-1 filing cases):

The following table explains the late fee to be charged in case of nil GSTR-1 filing:

The original late fees used to be Rs.100 per day under each CGST Act and respective SGST/ UTGST Act. Also, the original late fee for Nil return filers used to be Rs.25 per day under each CGST Act and respective SGST/ UTGST Act.  However, CBIC has notified reduced late fees to provide relief for businesses having difficulties in GST return filing. Also, the CBIC issued notification 20/2021 dated 1st June 2021, to cap the maximum late fee chargeable from June 2021 onwards. 

How to file GSTR-1 on Clear GST Software?

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Frequently Asked Questions on GSTR-1

Should i file gstr-1 even if there are no sales in a month.

Yes, filing GSTR 1 is mandatory even if there were no sales during a month/quarter. In this case, you have to file Nil GSTR-1.

Can I upload an invoice only while filing the return?

You can upload invoices anytime. It is highly advised that you upload invoices at regular intervals during the month to avoid bulk upload at the time of filing a return. This is because bulk upload takes a lot of time.

Can I change a bill/ invoice uploaded on the GST portal?

After uploading bills you can make changes multiple times. There is no restriction on changing invoices after uploading them. But you can change an invoice only before submitting a return. Once submitted, the numbers are frozen.

Can I file GSTR-1 after the due date?

Yes, you can file the GSTR-1 even after the due date. However, you have to pay a late fee based on the delayed number of days.

What is the difference between GSTR-1 & GSTR-3B?

You have to report all the sales detail in GSTR-1, whereas you have to report summarised figures of sales, ITC claimed, and net tax payable in GSTR-3B return.

Can I file GSTR-1 even after filing GSTR-3B?

No, with effect from 1st January 2022, you have to file GSTR-1 before filing the GSTR-3B return.

I have opted for the composition scheme. Should I file GSTR-1?

You should not file GSTR-1. However, you have to use Form CMP-08 to make tax payments on a quarterly basis.

Should I make a GST payment after filing GSTR-1?

GSTR-1 is a return where details of sales are filed with the government. Hence, there is no need to pay tax after filing this return. However, you have to pay the tax due while filing GSTR-3B.

I have been filing GSTR-1 on a quarterly basis so far. My annual sales are below Rs. 1.5 crore. What happens if I choose the QRMP scheme?

You need to continue filing GSTR-1 on a quarterly basis and the GSTR-3B will also need to be filed on a quarterly basis with monthly tax payments. For more information about the QRMP scheme, read our article on “ All about the QRMP scheme .”

How can I upload invoices under the QRMP scheme?

You can upload the invoices related to the first two months of the quarter using the Invoice Furnishing Facility (IFF) and last month’s invoices in the quarterly GSTR-1. Click here to read more about IFF.

Can amendments be made to details already filed in GSTR-1? If yes, then what will be the filing period to make amendments?

Yes, you can make amendments to an already filed GSTR-1 of a particular tax period by declaring the amended details in the return. For example, Mr X of Kerala has sold goods to Mr Y of Karnataka for Rs. 1,00,000 on 30th December 2023 and declared in the GSTR-1 of December 2023. Now he realised that he made a mistake in the date of the invoice, so he can make an amended invoice with the correct invoice date i.e., 16th December 2023. This amended invoice must have been shown in the GSTR-1 of January 2024.

What should the ‘Revised date’ be in the amended invoice?

The ‘Revised date’ to be mentioned in an amended invoice must be not later than the last date of the original invoice tax period. For example, if an original invoice dated 12th March 2024 is being amended in April 2024 then the revised invoice date cannot be later than 31st March 2023.

What are the amendments not admissible or not allowed?

The following details cannot be amended at Invoice level :

• The Customer GSTIN
• Changing a tax invoice to a bill of supply
• The following with respect to Export Invoices cannot be amended: a) Shipping Bill Date/Bill of Export Date b) Type of Export- With/Without payment
• Receiver/Customer GSTIN. However you may amend & link any other invoice for the same GSTIN.
• Place of Supply
• Reverse charge applicable Reason: Since the above details are based on the original Invoice which it Is linked to, Hence these details must match with the details of the linked Invoice.
• HSN summary of Outward supplies
• Cannot add a new place of supply

Note: However, you can replace the existing place of supply with another place of supply with some limitations. Refer to the examples given below.

What are the amendments allowable with respect to the Place of supply?

With respect to Place of Supply, note the following:

• You can amend the original place of supply for a transaction.
• You cannot add any new place of supply to a transaction.

Let us understand the above with the following scenarios:

We can see that in all those cases where the original place of supply was amended from Kerala to Karnataka (whether or not there was a change in tax rates or invoicing), the amendment is allowed. But in the last case where in addition to Kerala, Karnataka is also added as a place of supply (irrespective of change in tax rates or invoicing) amendment does not hold good

Where to show the amended invoices in GSTR-1?

Declare the amended invoices or details in the tax period in which the amendment takes place as follows:

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About the Author

I preach the words, “Learning never exhausts the mind.” An aspiring CA and a passionate content writer having 4+ years of hands-on experience in deciphering jargon in Indian GST, Income Tax, off late also into the much larger Indian finance ecosystem, I love curating content in various forms to the interest of tax professionals, and enterprises, both big and small. While not writing, you can catch me singing Shāstriya Sangeetha and tuning my violin ;). Read more

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GST Reports; GSTR-1, GSTR-2 and GSTR-3B Explained:

It is vital to know the amount you should pay as your tax liability and if you are eligible for any refund on your GST. GST report or return is a mechanism that summarizes the GST received and paid by you. It shows how your GST was calculated and ensures credit flow to the proper recipient.

GST returns is categorized into different categories, there are GSTR-1, 2, 3, 4, 5…11. Some of these GST returns are further broken down, but the primary concern of this article is on GSTR-1, GSTR-2, and GSTR-3B.

Difference between GSTR-1, GSTR-2 and GSTR-3B | Infographic

GSTR1 or Sales Report

All registered taxable suppliers file this tax return. It comprises details of sales (also known as outward supplies) of taxable goods and services. It is paid monthly or on a quarterly basis depending on your rate of turnover. If your turnover rate is above Rs.1.5 crores, you will file GSTR-1 on a monthly basis, but if it is below the amount, then you will file it quarterly.

All registered taxpayers must file GSTR-1 except for the composition dealers, input service distributors, non-resident taxable persons, and persons liable to collect either TCS or TDS. The penalty for late filing is Rs.50 and Rs.20 per day.

Who needs GSTR 1?

All the registered dealers need to file GSTR 1. It is considered mandatory irrespective of sales and transactions of the particular month. It clearly means that even if the dealer receives no transactions or sales in any month, still he has to file GSTR 1. However, the entities and individuals are exempted from this report. Here is the list of people who need not file GSTR 1:

• In case if your business receives some invoices for the services that are accessed by other branches, you are considered as an input service distributor as per GST norms.
• Those who have registered their business under composition scheme specified by GST, you need to file this report. Note that businesses that have an annual turnover of around 1.5 crores can work under this scheme right from 1 st April 2019.
• The suppliers of retrieval services, database access and online information.
• You belong to the category of a non-taxable person if you import services and goods from outside India or taking responsibility for business on behalf of some non-resident Indian.

In order to file GSTR 1; you must have a genuine and valid Goods and Service Tax Identification Number. The sign-in credentials for the portal, valid digital signature certificate and Aadhar number are also important. One should also have access to the mobile number that is mentioned in the Aadhar card.

GSTR2 or Purchase Report

Just as the GSTR-1 mentioned above deals with outward supplies, the GSTR-2 deals with inward purchases of taxable goods, services or both. GSTR-2 is a monthly inward supply report, which can also include reverse charge transactions. It is used to do buyer-seller reconciliation, also known as invoice matching, by the government.

It is compulsory for every registered taxpayer to file GSTR-2 monthly but for businesses with an annual turnover below 1.5 crores, the tax will be paid quarterly. Suppliers must file this return even when no purchases are made as there is a penalty of Rs.100 per day to a maximum of Rs.5000 for late filing.

As GSTR-2 is auto-populated base on the details of the GSTR-1, it takes less time to file, and with your online accounting software, it is even simpler. You must note that if you do not file GSTR-2, you cannot proceed to file GSTR-3.

Who needs GSTR 2?

GSTR 2 is applicable to almost every registered person except the non-residential taxable person, input distributor, and e-Commerce operator.

In case if you import goods and services; you are liable to file GSTR 2. The process of filing GSTR 2 is quite easy; you can complete all formalities by using the common portal. Many businesses prefer to use GSTR 2 just to ensure that vendors are following tax compliant and are registered to the GSTN.

GSTR3B or Tax Summary Report

This is a non-revisable monthly tax filing by registered suppliers. For each GSTIN a taxpayer possesses, he must file a GSTR-3B. This means that if you have multiple GSTIN, you must file multiple GTR-3B. All casual/normal taxable persons must file this tax return every month. In fact, if there is no transaction in a particular month, “Nil” returns must be filed. The refusal to file this tax return as of when due attracts a late fee penalty of Rs.50 per day for normal taxpayers but for taxpayers with Nil tax liability, the penalty is Rs.20.

However, non-resident taxpayers, suppliers who enjoy composition scheme, input service distributors, database access or retrieval services (OIDAR), online information suppliers, Tax deducted at source (TDS) deductor, and Tax collected at source (TCS) collectors do not need to file GSTR-3B.

Who needs GSTR 3B?

GSTR 3B is for all taxpayers that are registered as per the GST regime. Even if your monthly transactions are not significant or are nil; then also you need to file GSTR 3B forms on a regular basis. However, people that are working as composition dealers; input service distributors; suppliers of retrieval services, database access, or online information, or the non-resident taxable Indians need not file GSTR 3B.

It is required to provide all the available input tax credit (ITC), a summary of the information of purchases and sales, tax payable, as well as tax paid in the report.

For a thorough, fast, and easy filing of your tax returns, consider using GST accounting software and follow the step-by-step procedure of tax filing on any of your devices in real-time. One can take help from Cas to file these forms or follow instructions given on the portals online.

What is GST Report?

The GST report is a type of report that prints your paid and received GST summary, which is broken down into different tax codes. It is utilized to determine your GST refunds or payments. By knowing the priority, businessers must make a return. The GST report is printed by displaying your business transactions, offering a standard reference as to how your business GST was estimated.

What details does GSTR 2 provide?

GSTR-2 gives the details of your business monthly tax return displaying the complete number of purchases that you made for that whole month. When the businessers make purchases from the respective registered vendors, the data from the GSTR-1 will be there in the GSTN portal in the form of GSTR-2A for you to utilize in your GSTR-2.

What’s the difference between GSTR 1 and GSTR 3B?

GSTR 1 is a return of reporting. It is filed by the taxpayers either monthly or quarterly. This return indicates your return on outward supplies, which is nothing but a sales return. 

GSTR 3B is the return of tax payments. This return indicates your return on both inward and outward supplies (i.e., sales return and purchase return respectively).

What’s the difference between GSTR 1 and GSTR 2?

GSTR 1 is nothing but the return of reporting about your business. This type of return is filed by the normally registered taxpayers either once a month or quarterly. It represents your business sales return (outward supplies).

GSTR 2 is also the return of reporting about your business. This type of return is also filed by all taxpayers either once a month or quarterly. It represents your business purchase return (inward supplies). GSTR 2 is currently suspended. This return is not in use from sat September 2017. The data on this GSTR 2 return had to be auto-populated from the GSTR-2A return. 

What is R1 R2 R3 in GST?

The R1, R2, and R3 in GST represent the GST R1, GST R2, and GST R3. Here the

• R1 in GST represents sales return (outward supplies)
• R2 in GST represents purchase return (inward supplies)
• R3 in GST represents both sales return and purchase return (outward and inward supplies respectively)

Can I change GSTR 1 quarterly to monthly?

Yes, the taxpayers can modify the GSTR 1 filing frequency to either monthly or quarterly. But for business taxpayers holding their respective annual turnover of 1.5 crores or more than 1.5 crores, must file their sales return every month.

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Download PPT on GST Annual Return

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Overview of GSTR 9

• GSTR 9/9A is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme.
• It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGST, and IGST.
• It consolidates the information furnished in the monthly/quarterly returns during the year.
• GSTR – 3B and GSTR – 1 is not matching with Books – What to do?
• Exempted supply, Nil Rated, and Non-GST supply had not mentioned while filling GSTR – 1 and GSTR – 3B – what to do?
• Blockage of credit u/s 17(5) not entered in 3B?
• ITC availed via GSTR – 3B Reco for FY 2017- 18 with GSTR – 2A?
• GSTR – 3B bifurcation with Input goods / Input Services / Capital Goods?
• Inward supplies from composition dealers, deemed supply from job workers, etc. are required to be reported separately while filling Annual return.
• HSN wise details for inward supplies was not required to be reported in GSTR-3B but the same details have to mentioned in Annual return.
• It appears that any additional liability arising out of error/omission in GSTR-1 and GSTR-3B cannot be paid at the time of filing an annual return.
• Is it mandatory to file Form  GSTR-9   – Yes,  it’s mandatory to file  Form GSTR-9 for normal taxpayers who are filing  GSTR-1/3B.
• Do a Registered Person need to file Form GSTR-9  or Form GSTR-  9A  – The period during which the taxpayer remained as composition taxpayer ,  Form GSTR-9A is required to be filed.  And, for the period for which the taxpayer is registered as a  normal taxpayer ,  Form GSTR-9 is required to be filed.
• If registration got canceled in the financial year. Is it required to file  Form GSTR-9 – Yes, the annual return needs to be filed even if the taxpayer has got his registration canceled during the said financial year.
• Form GSTR-9 return is required to be filed at the entity level or GSTIN  level – Form GSTR-9 return is required to be filed at GSTIN  level i.e. for each registration.
• Can RP edit auto-populated data from filed Form  GSTR-1 and GSTR- 3B in Form GSTR-9 – Yes, you can edit auto-populated data from filed Form GSTR-1  and GSTR-3B in Form GSTR-9,  except ITC as per 3B, ITC as per 2A and details of tax paid.
• Will consolidated summary of Form  GSTR-1/3B be made available for the returns filed during the financial year – Consolidated summary of all filed Form GSTR-1/3B  statement for the relevant financial year is available for download in PDF format.
• What happens after COMPUTED LIABILITIES button is clicked – After COMPUTE LIABILITIES button is  clicked, details provided in various tables  are processed on the GST Portal at the back  end and Late fee liabilities, if any, are  Late fee is calculated if there is a delay in filing of annual return beyond the due date
• Is there any option to make payment (if applicable) in Form  GSTR-9? – .Any additional payment can be made using Form GST  DRC-3 functionality only through utilization from Electronic Cash Ledger.
• In Form GSTR-9, an additional liability not reported earlier in Form GSTR-3B be declared – Yes, additional liability not reported earlier at the time of filing Form GSTR-  3B can be declared in Form GSTR-9. The additional liability so declared in Form  GSTR-9 is required to be paid through  Form GST DRC-03.
• Can we claim or report any unclaimed ITC  through Annual  Return? – we cannot claim ITC through  Form GSTR-9.

Related Topic: GST annual return case studies: Supply part

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GST AUDIT – GSTR 9C

Jan 03, 2020

530 likes | 555 Views

GST AUDIT – GSTR 9C. CMA vishwanath bhat,B.Com . Fcma. SYNOPSIS OF GST AUDIT (GSTR 9C). What is GST Audit Purpose of GST Audit Type of GST Audit Documents required for GST Audit Content of GST Audit. WHAT IS GST AUDIT. The process of examination of maintained by a taxable person

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Presentation Transcript

GST AUDIT – GSTR 9C CMA vishwanathbhat,B.Com. Fcma

SYNOPSIS OF GST AUDIT (GSTR 9C) What is GST Audit Purpose of GST Audit Type of GST Audit Documents required for GST Audit Content of GST Audit

WHAT IS GST AUDIT The process of examination of maintained by a taxable person Records, Returns and Other documents

PURPOSES OF GST AUDIT To verify the correctness of Turnover declared, Taxes paid, Refund claimed, Input tax credit availed, and To assess the compliance with the provisions of GST

Type of Audit in GST

Documents Required for GST Audit Audited Financials Annual return in Form GSTR-9 All GSTR 1 , 3B & Reconciliations Reconciliation statement, reconciling the value of supplies declared in the return furnished for the year with the audited annual financial statement in Form GSTR-9C.

Content of GST Audit The Audit report consist of 5 Parts. I) : Basic Details II) :Reconciliation of turnover declared in AFS with turnover declared in Annual Return (GSTR-9) III) : Reconciliation of Tax Paid IV) :Reconciliation of Input Tax Credit (ITC) V ) :Auditor's recommendation on additional liability due to Non-reconciliation

Form :GSTR 9C • Part-I

Part-1 Basic Details

Form: GSTR 9c • Part-II

Reconciliation of Turnover as per Audited Financial Statement and Annual Return [GSTR 9]

SL No 5: Reconciliation of Gross Turnover (Details to be provided in 5 A to 5R)

Sl no 5: Reconciliation of Gross Turnover(Details to be provided in Sl no 5 A to 5R)

Sl No 6:Reasons for Un-Reconciled difference in Annual Gross Turnover

SL No 7 : Reconciliation of Taxable Turnover

Sl No 8 :Reasons for Un-Reconciled Taxable Turnover

Form : GSTR 9 C • Part-III

Reconciliation of Tax Paid • Part-III: Contains Sl No 9, 10, 11 • Sl no 9 :Reconciliation of rate-wise liability and amount payable thereon. • Sl no 10: Reasons for un-reconciled Payment of Amount. • Sl no 11:Additional amount payable but not paid.

Sl no 9: Reconciliation of rate-wise liability and amount payable thereon (1/2)

Sl no 9: Reconciliation of rate-wise liability and amount payable thereon (2/2)

Sl No 10: Reasons for Un-Reconciled Taxable Turnover

Sl no 11 : Additional amount payable but not paid( due to reason specified under tables 6, 8 and 10 above)

Form : GSTR 9 C • Part-Iv

Part-IV: Reconciliation of ITC • Part-IV: Contains Sl No 12, 13, 14,15,16 • Sl no 12 :Reconciliation of Net Input Tax Credit (ITC) • Sl no 13 : Reasons for un-reconciled difference in ITC • Sl no 14 :Reconciliation of ITC declared in Annual Return (GSTR-9) with ITC availed on expenses as per audited AFS • Sl no 15 : Reasons for un-reconciled difference in ITC between eligible ITC as per audited AFS and ITC claimed in GSTR • Sl no 16 : Tax payable on un-reconciled difference in ITC

Sl no 12: Reconciliation of Net Input Tax Credit (ITC)

Sl no 13 : Reasons for un-reconciled difference in ITC

Sl 14: Reconciliation of ITC between GSTR-9 and ITC availed on expenses as per audited AFS

Sl no 14: Reconciliation of ITC between GSTR-9 and ITC availed on expenses as per audited AFS

Sl no 15 : Reasons for un-reconciled difference in ITC

Sl no 16-Tax payable on un-reconciled difference in ITC ( due to 13 and 15)

Form : GSTR 9C • Part-v

Part V: Auditor's recommendation on additional Liability due to Non-reconciliation

Sl no 5: Explanation 5 (A) : Turnover of Audited Financial Statement need to be taken here. If Financial Report consist of multiple GSTINs(State wise/Vertical GSTIN wise) then Turnover belongs to particular GSTIN which is subject Audit to be taken. Continue…

Sl no 5: Explanation Additions to Turnover as per Audited AFS 5 B). Unbilled Revenue which was accounted in the books of accounts of FY 2016-17 and carried forward to FY 2017-18. Eg: If INR 10 Cr unbilled revenue exist in the FY 2016-17 and during the current FY 2017-18(July – March) GST was paid on INR 4Cr on such revenue , then value of INR 4Cr should be declared here.

Sl no 5: Explanation Additions to Turnover as per Audited AFS 5 C) . Value of all unadjusted advance for which GST has been paid during the FY 2017-18 (July – March). 5 D) . Deemed Supply – Schedule I(Section 7) • Permanent transfer or disposal of Business Assets where ITC has been availed on such assets. • Supply between related persons/distinct person as specified in Sec 25. • Supply of goods by Principal to Agent or Agent to Principal. • Import of services by taxable person.

Sl no 5: Explanation Additions to Turnover as per Audited AFS 5E). Credit notes issued after the end financial year but reflected in the annual return. 5 F). Trade discounts , accounted for in the audited AFS but on which GST was leviable.

Sl no 5: Explanation Deductions from turnover as per audited AFS 5G) Turnover included in the audited AFS for April 2017 to June 2017. 5 H) Unbilled revenue recorded in the books of accounts during the FY 2017-18 but GST was not payable on such revenue in the same financial year. 5 I) Value of all advancesfor which GST has not been paid but the same has been recognized as revenue in the audited AFS.

Sl no 5: Explanation Deductions from turnover as per audited AFS 5 J). Aggregate value of credit notes issued before 31st of March 2018 for the supply accounted in the FY 2017-18 and such credit notes are not permissible under GST. 5 K). Aggregate value of all goods supplied by SEZs to DTA units for which the DTA units have filed bill of entry.[Applicable to SEZ developers/SEZ units] 5L). If registered persons have opted out of the composition scheme during the FY 2017-18, the turnover for which GST was paid under the composition scheme.

Sl no 5: Explanation Other adjustments (+/-) to turnover 5 M) Due to difference in valuation as per Sec.15 of CGST Act. (Time & Value of taxable supply) 5 N) Due to foreign exchange fluctuations. 5 O )Due to any other reasons not specified above.

GST Audit Guidelines Prepare profile of Taxable person Desk review Understand nature of Industry Evaluation Internal control

Understanding Understand taxable events Application of Schedule I and II of GST Act Understand whether supply is Composite supply or Mixed supply Accounting method of preparing AFS GST No wise

Time and Place of supply Policy adopted for recognise Time of supply Place of provision supply – Inter /Inter state Export / Import Intermediate Supplies Ocean Freight Charges in case CIF Value of Import Foreign Bank Charges in case of Import /Export

Accounts and Records under GST Production or Manufacturer of goods Inward and Outward supply of Goods /Services/both Stock of goods Input Tax credit availed Output tax payable and paid

Outward Supplies Sales – Regular/Reverse Transfer – Agents Transfer – Distant person Barter Exchange Lease Exchange Recovery/Reimbursement

Input Tax credit Condition and restriction for taking credit (Sec 16(2) Documentary requirement for claiming input tax credit (Rule 36) Reversal of input tax credit in case non payment of consideration Blocked credit U/S 17(5) ITC used for exemption supply party or fully, non business purposes , and personal use

RCM Specified services –Section 9(3) & 9(4) of GST Act 9(3) :- Specified Services as notified by GST council such as GTA, Legal services, import of services, sponsorship & etc 9(4) Supply received from URD till 13thoct 2017. Exemption upto Rs5000/- per day notification no 8 2017 dt 28/06/17. Point to be noted :- bill issued before 13th Oct 2017 accounted after that to be considered for RCM

Refunds (1/2) On account of export under LUT On account of supplies to SEZ under LIY On account of supplies to SEZ with payment of IGST Export of services with payment of IGST On account of deemed export On account of inverted rate of duty – Doctrine of unjust enrichment Refund in case of higher rate of duty drawback – July to Sept

Refunds (2/2) Export with payment of IGST in case export is towards fulfilment of EO of EPCG , advance authorization, export from EOU and procured goods with 1% GST Refund on account of credit balance in electronic cash ledger

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