/** * The main template file * * This is the most generic template file in a WordPress theme * and one of the two required files for a theme (the other being style.css). * It is used to display a page when nothing more specific matches a query. * E.g., it puts together the home page when no home.php file exists. * * @link https://developer.wordpress.org/themes/basics/template-hierarchy/ * * @package WordPress * @subpackage Tally * @since 1.0.0 */ ?>
As per the guidelines set by the GST Council, a registered taxable person is to follow a standard return filing process, involving 3 forms – outward supplies details in GSTR 1 form by 10th of the following month, corrections (if any) in GSTR 2 form by the 15th and finally the auto-populated GSTR 3 form for final submission and payment, by the 20th.
Based on the latest recommendations, the due dates for GSTR-1 have been specified, based on the turnover. While businesses with turnover of up to INR 1.5 crore will file quarterly returns, other businesses with turnover of above INR 1.5 crore have to file monthly returns.
Here are the due dates for the return until March 2018:
Form GSTR-1 will need to be filed quarterly as follows:
Form GSTR-1 will need to be filed monthly as follows:
Form GSTR-1 is a statement in which a regular dealer needs to capture all the outward supplies made during the month. Broadly, the GSTR 1 format requires - all the outward supplies made to registered businesses (B2B) to be captured at invoice level, and supplies made to unregistered business or end consumers to be captured at rate-wise level. However, in certain exceptional scenarios, even B2C transactions are required to be captured at invoice level.
Form GSTR-1 contains 13 tables in which the outward supplies details needs to be captured. Based on the nature of business and the nature of supplies effected during the month, only the relevant tables are applicable, not all. The GSTR-1 format is as follows:
Click here to view the tables and understand the GSTR 1 format.
As a step towards early preparation and to ease the GSTR1 returns filing, the option for creation and saving of Form GSTR-1 are available on the GST portal from 24th July, 2017.
Broadly, details required to be captured in the GSTR-1 format are either invoice-wise, rate-wise, or state-wise details of outward supplies made during the month. If the GSTR 1 returns are not filed in time, it will have an impact on the creditability of one's business. Subsequently, it will also impact one's customers since ITC depends on supplier compliance.
Payment Declaration Form – GST PMT – 08: Definition, Format and Rules