GSTR-1: Every supplier needs to file a monthly or quarterly return. This return is called GSTR-1. All the details regarding the outward supplies are contained in GSTR-1. Hence, this return becomes the basis upon which the whole compliance structure in GST would be primarily based.

Due Date for filing GSTR-1

Quarterly returns are required to be filed by taxpayers whose turnover is up to Rs. 1.5 crores.

Period (Quarterly)	Due dates
July – Sept 2017	Jan 10, 2018
Oct-Dec, 2017	Feb 15, 2018
Jan – Mar 2018	April 30, 2018
April – June 2018	July 31, 2018

Monthly returns are required to be filed by taxpayers whose turnover is above Rs. 1.5 crores.

Period (monthly)	Due dates
July – Nov 2017	Jan 10, 2018
Dec 2017	Feb 10, 2018
Jan 2018	March 10, 2018
Feb 2018	April 10, 2018
March 2018	May 10, 2018
April 2018	May 31, 2018
May 2018 and onwards	10th of  Next Month

GSTR-1 Should Be Filed By?

Every registered person needs to file GSTR-1 irrespective of the fact that there are any transactions in the reporting period or not.

The below-mentioned Taxpayers are exempt from the filing of GSTR-1:

• Dealers opting Composition Scheme
• Input Service Distributors
• Suppliers of online information and database access or retrieval services (OIDAR), who need to pay taxes by themselves
• Taxpayers liable to collect TCS
• Taxpayer liable to deduct TDS
• Non-resident taxable person

Can GSTR-1 Be Revised?

Once you file GSTR-1, it cannot be revised. However, in case of any changes, the same can be provided for in the next return by giving the details of revised Invoices, Debit Notes, or Credit Notes.

About the Author

Sunil Kumar Gupta is the Founder Chairman of SARC Associates and a Fellow Member of the Institute of Chartered Accountants of India (ICAI). He holds a Post Qualification Diploma in Information Systems Audit (DISA) and is a certified Forensic Auditor holding “Forensic Accounting & Fraud Detection” (FAFD) certificate and a certificate in “Anti-Money Laundering Laws”, issued by ICAI.

He is also the Life Member of the Indian Council of Arbitration (ICA) and on the Panel of Arbitrators maintained by ICA & ICAI and a Member of the Institute of Certified Public Accountants of Uganda (CPA-U).

He is the Co-founder of the multinational business forum Indo European Business Forum (IEBF) and possesses experience of over 35 years in the fields of Corporate Financing, Taxation, Banking, Education, Investment, Development, and Project implementation. He has also been a part of numerous international delegations and has participated in a number of international conferences.

Due to his business acumen, and analytical & policy-making skills, Mr. Gupta has been a part of several international delegations. He accompanied the Former Hon’ble President of India Mrs. Pratibha Devi Singh Patil in the business delegation to Seychelles and South Africa, to discuss bilateral issues between the two nations. He was also a part of the 21-member delegation from the Institute of Chartered Accountants of India to Vienna, Austria in 2011.

Mr. Gupta has served the nation in several dignified posts Expert Member of the Northern Railways Audit Advisory Board (C&AG), a Life Trustee of Rashtriya Antyodaya Sangh (Public Charitable Trust), a Life Member of Delhi & District Cricket Association (DDCA), National Sports Club of India (NSCI) and Noida Golf Club.

Consultant To Various Government Authorities:  

Mr. Gupta is associated with various Government Authorities, as a Consultant for Income Tax and GST matters, like Northern Railways (NR), Delhi Development Authority, DGH (Ministry of Petroleum and Natural Gas, Govt. of India), New Okhla Industrial Development Authority (NOIDA), Greater Noida Industrial Development Authority (GNIDA), Yamuna Expressway Industrial Development Authority (YEIDA).

Mr. Gupta acknowledges the concept of entrepreneurship as the strongest pillar of an empowered economy. He appeared in two highly recognized and much appreciated business shows, namely, ‘Business Inside’ on DD National (Doordarshan) and ‘Big Business Ideas’ on Zee Business in the year 2017. The shows were centered on educating the youth about the schemes/initiatives of the government as a step towards nation building with focus on the MSME sector, Make in India, Skill India, Start-Up India, Stand-Up India, Mudra Yojana along with Credit Guarantee Fund and many more. The shows garnered more than eight crore viewership during the 104 weeks of telecast and were among the highest TRP rated shows.