The Goods and Services Tax Return 1 is a document that each registered tax payer needs to file every month/quarter.

  1. * It must contain the details of all sales and supply of goods and services made by the tax payer during the tax period.
  2. * However this return is not applicable to composition vendors, non resident foreign taxpayers and those with an Unique Identification Number.

When to file GSTR-1

  • * Taxpayers with an annual turnover less than Rs. 1.5 crore should file their GSTR 1 on a quarterly basis. The deadline for these taxpayers is the 30th of the month following the end of the quarter. For example, for the January - March 2018 quarter, the deadline is April 30, 2018.
  • * Taxpayers with an annual turnover more than Rs. 1.5 crore, should file their GSTR 1 on a monthly basis, and the deadline for these taxpayers is the 10th of the alternate month. For example, returns for January, 2018 should be filed by March 10, 2018.

Prerequisites for filing GSTR-1

  • * You must be a registered tax payer under the GST with a 15-digit PAN-based GSTIN.
  • * You need to keep detailed invoices with unique serial numbers for all of your transactions, including intra-state as well as inter-state transactions, and business-to-business (B to B) as well as retail (B to C) sales. This also includes transactions associated with exempted and non-GST supplies, and stock transfers between your business locations in different states.
  • * You either need an OTP from your registered phone to verify your return using an EVC (electronic verification code) or a digital signature certificate (of class 2 or higher). You can also file your GST returns using an Aadhar based e-sign.