GSTR-1 filing is a regular monthly sales return filing. It’s mandatory for all businesses who registered themselves under GST.
GST brings uniformity in tax structure and made it simple for businesses out there. GST helps business owners to maintain accountability in business finance. Not only GSTR-1 but also other GSTR filings are mandatory for all taxpayers. GST plays an important role in boost ease of doing business in India.
GSTR-1 filing should be done by: GSTR-1 filing is mandatory for all taxpayers registered under GST but there are some who no need to file GSTR-1. E-commerce operators, Input service distributors, composition scheme holders, Non- resident taxpayers & tax deduct authorities no need to file GSTR-
Necessary documents needed at the time of GSTR-1 filing:
- List of all invoices issued to individual persons, businesses, businesses outside of the state & export supplies.
- Details of Debit notes & Credit notes
- Details of outward supplies made to businesses of value more than Rs 2.5 Lakhs
- Tax liability raised from advanced receipts
Now comes to the step by step GSTR-1 filing process. I have already written an article on detail guide on the GSTR-3B filing. Follow it for easy GSTR-3B filing.
Here is the detail GSTR-1 filing procedure:
To file details of outward supplies in GSTR-1
- First, visit Govt GST portal
- Then log in using your login credential provided to you at the time of GST registration
- Now click on service button and below that returns > returns dashboard
- To start the filing process enter the financial year and respective month for which you want to file the outward supply details
- Now click on the search button
A popup box will appear. You need to select your preferences pertaining to annual turnover and filing period like whether you would like to go for monthly or quarterly filing then click on submit button as shown in below image
- Choose your preferences according to your business then click on submit and then proceed to continue with the filing process.
- Now you will see a box indicating “Filing period with an option to Prepare Online or offline”. Select your preferences accordingly
- Now you will see a box with all details of outward supplies like GSTN, Legal name, Filing status etc. and then go don little bit on the same page and click of Generate GSTR1 Summary to continue further
- Now click on first tile mentioning 4A, 4B, 4C, 6B, 6C etc. to provide details of outward supplies to a registered person
- Then fill up all details and then click on save, likewise you can more invoice as per your supplies.
- Then go back to GSTR-1 filing and click on the second box containing 5A, 5B to provide outward supplies details to customers of other states having a value of more than Rs 2.5 Lakh
- After completing invoice adding for large supplies then move to add a debit note & credit notes
- include outward supplies to unregistered persons click on 9B – Credit/Debit Notes (Unregistered) and then add invoices.
- After that, you can add invoice details for export supplies under 6A – Export Invoices
- Likewise, you can add invoices for Amended exports, nil rated supplies, Tax Liability, Adjustment of advances etc.
- Once you are done with adding invoices click on the preview button to preview your GSTR-1 Filing.
- A box will appear asking for your consent for the information furnished in the GSTR-1 filing. If you are agreeing to submit all given details then click on submit button.
- After that, a box will appear with a message that after this step you wouldn’t be able to do any changes in this filing.
- If you agree to proceed then click on proceed.
- Then reload the page to check the status of GSTR-1 filing and you will see that the status changed to submitted
- Now click on File Return after viewing the preview of GSTR-1 filing
- A box will appear. Here you need to click on the checkbox then select a method to upload authorized signature
- Choose File with DSC or File with EVC then click on Proceed
- A warning message will appear
- Here you need to click on proceed then select the respective file then click on sign
- An OTP will send to your registered mobile & email id. Enter the received OTP and click on Verify.
- Now you will receive a success message
- You may go back to check the status of GSTR-1 filing
- Congrats you have filed GSTR-1 successfully
Conclusion: Follow this guide to file GSTR-1 easily. To get all type of tax filing & business health reports handy by using SlickAccount. SlickAccount is a cloud accounting software for small businesses. It’s very easy to use & simple accounting software, even a non-accounting person can use this software without facing any hurdles.