gstr 1

Implementation of mandatory mentioning of HSN codes in GSTR-1 As per Notification No. 78/2020 – Central Tax dated 15th October, 2020, it is mandatory for the taxpayers to report minimum 4 digit or 6 digit of HSN Code in table-12 of GSTR-I on the basis of their Aggregate Annual Turnover (AATO) in the preceding Financial Year. To facilitate the taxpayers, these changes are being implemented in a phase-wise manner on GST Portal. Part I & Part II of Phase 1 has already been implement..

1. The Central Government has amended Section 37 & Section 39 of Central Goods & Service Tax Act (CGST), 2017 vide Notification No. 18/2022–Central Tax dated 28th September, 2022 with effect from 01 October, 2022. According to section 37(4) of CGST, Act, a taxpayers shall not be allowed to file GSTR-1 if previous GSTR-1 is not filed and as per sec 39(10) a taxpayer shall not be allowed to file GSTR-3B if GSTR-1 for the same tax period is not filed. 2. Section 37(4) & 39(10) ..

Introducing Single Click Nil Filing of GSTR-1 Single click Nil filing of GSTR-1 has been introduced on the GSTN portal to improve the user experience and performance of GSTR-1/IFF filing. Taxpayers can now file NIL GSTR-1 return by simply ticking the checkbox File NIL GSTR-1 available at GSTR-1 dashboard. For the detailed advisory please click here   Thanking You, Team GSTN ..

1. Vide Notification No. 78/2020 - Central Tax dated 15th October, 2020, it is mandatory for the taxpayers to report minimum 4 digits or 6 digits of HSN Code in Table-12 of GSTR-1 on the basis of their Aggregate Annual Turnover (AATO) in the preceding Financial Year. To view the detailed notification, please click here.   2. To facilitate the taxpayers, these changes are being implemented in a phase-wise manner on GST Portal as below: Phases   ..

  Vide Notification No. 78/2020 - Central Tax dated 15th October, 2020, it is mandatory for the taxpayers to report minimum 4 digits or 6 digits of HSN Code in Table-12 of GSTR-1 on the basis of their Aggregate Annual Turnover (AATO) in the preceding Financial Year. To facilitate the taxpayers, these changes are being implemented in a phase-wise manner on GST Portal. For detailed advisory please click here   ..

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 e..

The GST department introduced a new tax rate of 6% on specific goods vide Notification No. 02/2022 dated 31st March 2022. This new rate of tax was made applicable from 1st April 2022.  GSTR 1 is a monthly or quarterly statement of outward supplies furnished by a registered taxpayer. This return contains the invoice-wise details of the outward supply like HSN/SAC, tax rate, invoice date, etc. This return includes a separate row for every tax rate.    Earlier, the GSTN issu..

1. A new tax rate of 6% IGST or 3% CGST+ 3% SGST has been introduced on certain goods vide Notification No. 02/2022 dated 31st March 2022. Changes are being made on the GST portal to include this rate in GSTR-1. As a temporary measure, taxpayers who have to report goods at this rate may do so by reporting the entries in the 5% heading and then manually increasing the system computed tax amount to 6%. This can be done by entering the value in the 'Taxable value' column next to 5..

GSTR-1 enhancements & improvements 1. The statement of outward supplies in FORM GSTR-1 is to be furnished by all normal taxpayers on a monthly or quarterly basis, as applicable. Quarterly GSTR-1 filers have also been provided with an optional Invoice Furnishing Facility (IFF) for reporting their outward supplies to registered persons (B2B supplies) in the first two months of the quarter. Continuous enhancements & technology improvements in GSTR-1/IFF have been made from time to time t..

Generation of e-invoice is mandatory for certain classes of taxpayers, as notified by the Government. These taxpayers are required to prepare & issue their e-invoices by reporting their invoice data in the prescribed format and reporting the same on the Invoice Registration Portal (IRP). Invoices reported successfully on the IRP are given a unique Invoice Reference Number (IRN). The documents (invoices, debit notes, credit notes) reported on the IRP are then transmitted electronically to ..

i. Generation of e-invoice is mandatory for certain class of taxpayers, as notified by the Government. These taxpayers are required to prepare & issue their e-invoices by reporting their invoice data in the prescribed format (e-invoice schema in FORM GST INV-01) and reporting the same on the Invoice Registration Portal (IRP). Invoices reported successfully on the IRP are given a unique Invoice Reference Number (IRN). The documents (invoices, debit notes, credit notes) reported on t..

1. The statement of outward supplies in FORM GSTR-1 is to be furnished by all normal taxpayers on a monthly or quarterly basis, as applicable. Quarterly GSTR-1 filers have also been provided with an optional Invoice Furnishing Facility (IFF) for reporting their outward supplies to registered persons (B2B supplies) in the first two months of the quarter. Continuous enhancements & technology improvements in GSTR-1/IFF have been made from time to time to enhance the performance & ..

Arjuna (Fictional Character): Krishna, why there is huge cry among the taxpayers due to insertion of explanation to sec 75(12) stating that tax declared in GSTR 1 will be considered as "self-assessed tax" for the purpose of sec 75(12) even though not included in GSTR 3B effective from 1st January 2022? Krishna (Fictional Character): Arjuna, the CBIC have inserted strict barriers on claiming of Input Tax Credit only to the extent of ITC reflected in GSTR-2B based on GSTR 1 filed by t..

Arjuna (Fictional Character): Krishna, what are the changes notified by government in filing GSTR-1 and GSTR-3B from 1st January 2022? Krishna (Fictional Character): Arjuna, Earlier taxpayers (Supplier) were not able to file GSTR-1 or use the IFF on the GST portal if they had pending GSTR-3B filings for the past two months (monthly filer) or for the last quarter (quarterly filer) as per CGST Rule 59(6). From 1st January 2022, taxpayers cannot file GSTR-1 if the preceding month’s GSTR-3B..

Improvements in GSTR-1 A revamped & enhanced version of GSTR-1/IFF is being made available on the GST Portal to improve the taxpayer experience. These enhancements, would enable the Saving of the GSTR-1 details on the GST Portal efficient and user friendly. Further, changes are being implemented incrementally in a gradual manner, to leverage the familiarity of taxpayer so as to ensure that taxpayers can adapt to the changes smoothly. The changes would be implemented in two phases, to ensu..

Know everything about the GSTR-1 Nil Return Filing process on the GST portal What is GST return? A GST return is a document that contains all of the information related to the expenses, sales, purchases, and income of a taxpayer which is been further used by the tax department for the calculation of the net tax liability. Every individual, company, or any legal entity needs to file a return GST that is the return on purchase, return on sales and others for which they can claim the tax cred..

Finally, after facing every step of hurdle during past financial year, the final goal of every taxpayer is to assess their business records and analyze and correct the mistakes made during the past financial year either through GSTR-1 and GSTR-3B of September, 2021, following the end of financial year, being 2020- 21 Section 110 and 111 of the Finance Act, 2021 amended Section 35 and 44 of the Central Goods and Services Tax Act, 2017 ("the CGST Act") respectively, so as to remove th..

Arjuna (Fictional Character): Krishna, which new rule has been implemented by CBIC on GST Portal from 1st September 2021? Krishna (Fictional Character): Arjuna, Rule 59(6) of CGST Rules,2017 providing for restriction in the filing of GSTR-1 has been inserted by the CBIC vide Notification No. 1/2021 dated 1st January 2021 which will be implemented on GST Portal from 1st September 2021. Arjuna (Fictional Character): Krishna, what are the cases in which such restrictions shall be applicable? ..

Implementation of Rule 59(6) of CGST Rules, 2017 - restriction in filing of GSTR-1 in certain cases Rule 59(6) of CGST Rules, 2017 which specifies restricting filing of GSTR 1 which is being made operational on GSTN portal from 1st September, 2021.   A. Legal Provision Rule-59(6) of CGST Rules, 2017, inserted vide Notification No. 1/2021 dated 1st January 2021, provides for restriction in filing of GSTR-1 in certain cases: a registered person shall not be allowed to furnis..

Table-12 of GSTR-1 pertains to the data related to the HSN-code wise supplies of goods & services declared in the aforesaid GSTR-1. It has been reported that in the GSTR-1 for the tax period of May 2021, the ‘Total Invoice value’ field in the preview PDF is displaying a value as ‘0’ (zero) instead of N.A, in the cases where the taxpayer has not reported any value in the concerned Table-12 of GSTR-1.   Technical team is working towards resolving this issue a..