Now file GSTR1 compulsory before GSTR3B
GST return is an official document that furnishes all the purcheses , sales , tax paid on purchases and tax collected on sales related details.
Regular taxpayers under GST are the persons who own a business in a state/UT and involve in the supply of goods and services. Currently, there are two forms which are to be filed by the regular taxpayer i.e. GSTR-1 and GSTR-3B
Following are the important changes have been made in return filing process :
- Taxpayers need to file previous tax periods GSTR-1 before filing current period GSTR-1
- GSTR-1 for the current period need to be filed before filing GSTR-3B for the said tax period
What is Form GSTR -1 ?
FORM GSTR-1 is a statement of outward supplies which is filed:
- On Quarterly basis by QRMP taxpayers
- On Monthly basis by other taxpayers
When should you file FORM GSTR-1?
- All taxpayers (other than QRMP taxpayers) must file FORM GSTR-1 every month on or before 11th of the next month
- QRMP taxpayers, have to file quarterly FORM GSTR-1 by the 13th of the month following the relevant quarter
For more details, please refer to Section 37 (4) and 39 (10) of CGST Act 2017, read with Notification No. 18/2022- Central tax dated September 28, 2022 and GSTN Advisory dated October 21, 2022