Information required to file GSTR-1

What information is required to file GSTR-1?

GSTR-1 is a monthly or quarterly return that businesses registered under the Goods and Services Tax (GST) system in India need to file. It contains details of outward supplies made by the taxpayer during a specific period. Here is the information generally required to file GSTR-1:

  1. Business Details:
  • Legal name of the registered business.
  • Goods and Services Tax Identification Number (GSTIN).
  • Period for which the return is being filed (monthly or quarterly).
  1. Invoice Details:
  • Invoice number and date.
  • Customer’s name and address.
  • Customer’s GSTIN (if registered under GST).
  • Description of goods or services.
  • HSN (Harmonized System of Nomenclature) code for goods or SAC (Services Accounting Code) for services.
  • Quantity and unit of measurement.
  • Taxable value of the supply.
  • Tax rate (CGST, SGST/UTGST, IGST).
  • Amount of tax charged.
  1. Export and Deemed Export Details:
  • Invoice details for export and deemed export supplies.
  • Shipping bill number and date (for exports).
  1. Details of Nil-Rated, Exempt, and Non-GST Outward Supplies:
  • Information about supplies that are nil-rated, exempt, or fall outside the purview of GST.
  1. Credit/Debit Notes:
  • Details of credit notes and debit notes issued during the reporting period.
  1. Advances Received and Adjustments:
  • Information about advances received and adjusted against invoices.
  1. HSN/SAC Summary:
  • Summary of HSN/SAC-wise details for goods or services.
  1. Late Fee Details:
  • If applicable, details of late fees payable.

It’s important for businesses to accurately report the information in GSTR-1 to ensure compliance with GST regulations. The specific requirements and formats may be subject to changes, so businesses should refer to the latest guidelines and consult with tax professionals for precise and up-to-date information.