The Central Board of Excise and Customs (CBIC) extended the last date for waiving late fee on filing of output supplies statements through Form GSTR 1 for the period between July 2017 and November 2019, by a week to January 17.

What is GSTR-1?

GSTR-1 is a monthly or quarterly return that should be filed by every registered dealer. It contains details of all outward supplies i.e sales

Who should file GSTR-1?

Every registered person is required to file GSTR-1 irrespective of whether there are any transactions during the month or not.

The following registered persons are exempt from filing the return:

• Input Service Distributors
• Composition Dealers
• Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves (as per Section 14 of the IGST Act)
• Non-resident taxable person
• Taxpayer liable to collect TCS
• Taxpayer liable to deduct TDS.

How to revise GSTR-1?

Return once filed cannot be revised. Any mistake made in the return can be rectified in the next periods (month/quarter) return. It means that if a mistake is made in September GSTR-1, rectification for the same can be made in October’s GSTR-1.

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

• Login to the GST Portal
• Go to Services. In the drop-down click on Returns > Returns Dashboard

• This will take you to the Return filing page. From the drop down select the financial year and the month for which you want to file the return. Click on Search

• There are 2 options that a return filer has here – Prepare the return online or offline. Let us take a look at the process of preparing the return online first. Click on Prepare online.