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How to File GSTR 1?

GSTR 1, also known as the "Outward Supply Return," is a monthly or quarterly tax return that businesses registered under the GST (Goods and Services Tax) system in India are required to file. It is a summary of all the sales made by the business during the month or quarter, including details of the buyers and the GST charged on the sales.

Here is a step-by-step guide on how to file GSTR 1:

1.       Log in to the GST Portal: Go to the official GST Portal (https://www.gst.gov.in/) and log in using your GSTIN (GST Identification Number) and password.

2.       Go to the "Services" menu and select "Returns" and then "GSTR-1."

3.       Enter the details of your outward supplies: This includes the details of your customers, the invoice value, the GST charged, and the HSN (Harmonized System of Nomenclature) code for the goods or services sold.

4.       Add any applicable exemptions or deductions: If you are eligible for any exemptions or deductions under GST, you can claim them while filing your GSTR 1.

5.       Review and submit: Once you have entered all the required details, review your return and submit it. You will receive an acknowledgement once your return has been successfully filed.

6.       File by the due date: GSTR 1 is generally due on the 11th of the following month. If your turnover is less than 1.5 crore INR, then it is due on the 20th of the following month.

Note: If you are filing GSTR 1 for the first time, you may need to file a "nil return" if you have not made any sales during the month or quarter.

It's important to keep accurate records of your sales and GST charges to make the filing process easier and ensure that your GSTR 1 is accurate. And also, consult with a tax professional for personalized advice and guidance.

Regards

Santosh Patil

9769201316

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