Tag: GSTR1

What is GSTR1 Return?

GSTR1 is a type of GST return which is used to report all of your sales to the GST department.

Note: GSTR1 only contains Sales Details. It doesn’t contain any Purchase Details

GSTR1 Return contents

The GSTR1 Return contains majorly the following data:

  1. Sale Details (both Domestic and Export Sales)
  2. Amendment to previously reported Sales
  3. Invoice Series Details (documents issued against these Sales)
  4. HSN-wise summary (break up of these Sales HSN-wise)

The Sale Details (point number 1 above) is split so as to be reported under various heads as below:

  1. Domestic Sales
    1. Taxable Sales
      1. B2B Sales (filed under column no 4A, 4B, 4C, 6B and 6C)
      2. B2C large Sales (filed under column no. 5A and 5B)
        1. sale amount >= 2.5 lacs
      3. B2C Small Sales (filed under column no 7)
        1. B2C Small Sales (sale amount < 2.5 lacs), and
        2. All other Sales which are not covered under above 2 points: “B2B Sales” and “B2C Large Sales”
    2. Nil Rated, Exempted and Non-GST Sales (filed under 8A, 8B, 8C, 8D – Nil Rated Supplies)
  2. Export Sales (filed under Column no.6A)
  3. Credit/Debit Notes
    1. Registered
    2. UnRegistered
  4. Advances Received and Sales adjusted from Advances
    1. Advances Received (filed under 11A(1), 11A(2) – Tax Liability)
    2. Adjustment of Advances (filed under 11B(1), 11B(2))

GSTR1 Filing Frequency

You can choose to file it either monthly or quarterly. Quarterly option is available only if your turnover is less than 1.5 crore. If your turnover is more than 1.5 crore, then the only option you have is to file it monthly.