Monthly GSTR-1 Return
The taxpayers whose aggregate turnover during preceding financial year exceeded Rs. 1.5 Cr or the new registrants who estimate their turnover to exceed Rs. 1.5 Cr during current financial year, have to file return on monthly basis.
Filing of GSTR-1 for the tax period of August, 2017 and onwards has already started.In the meantime, such taxpayers can upload the invoices for August, September, October 2017 to avoid last minute rush.
The taxpayers, whose aggregate turnover during the preceding financial year remained upto Rs. 1.5 Cr or the new registrants who estimate their turnover to remain upto Rs. 1.5 Cr during current financial year, but who intends to file return on monthly basis, can also upload the invoices for the month of August, 2017.
Taxpayers, who have opted for Monthly filing of Form GSTR 1, please note:
1) Taxpayers, who have opted for Monthly filing of Form GSTR 1, can do so for the month of July, August, September, October and November 2017, sequentially.
2) Return for a particular period can be filed if corresponding Returns (GSTR 3B and GSTR 1) for the previous months have been filed.
3) Once you have chosen the option 'Monthly', you cannot change this option in the remaining part of the financial year 2017-18. Thus, you will be required to file Monthly returns and you cannot opt for Quarterly filing of returns.
Quarterly GSTR-1 Return
All other taxpayers liable to file GSTR-1 shall upload the invoices and file GSTR-1 for the quarter ending September, 2017 . The taxpayers eligible to file return on quarterly basis but have already filed the return for the month of July, 2017, shall have to upload the invoices of August and September jointly and have not to include the invoices of July month again. The taxpayers who have not filed GSTR-1 for the month of July, are advised to file the same quickly as they will not be able to file GSTR-1 for remainder of quarter (August-September) till they have filed GSTR-1 of July.
Taxpayers, who have opted for Quarterly filing of Form GSTR 1, please note:
1) Once you have chosen the option 'Quarterly', you cannot change this option in the remaining part of the financial year 2017-18. Thus, you will be required to file Quarterly returns and you cannot opt for Monthly filing of returns.
2) Return Filing for Quarter July to September 2017 is as below:
- a)lf you have filed Form GSTR 1 for July 2017, you have to file GSTR 1 for August and September, by choosing the Return period 'September 2017 GSTR 1'.
- b) If you have NOT filed Form GSTR 1 for July 2017, you will have to first file Form GSTR 1 for July 2017 and then file Form GSTR 1 for August and September, by choosing the Return period 'September 2017 GSTR 1'.
3) Form GSTR 1 for filing next Quarterly Return (October to December 2017), will be made available after December 2017.
- Taxpayers opting for quarterly filing of return will have to select the last month of the quarter from the drop down menu. However, for the month of July 2017, GSTR-1 has to be filed separately by all taxpayers, as option to file quarterly returns is applicable for returns from August 2017 onwards.
- If a taxpayer opts to file quarterly return, and their annual turnover is less than Rs 1.5 Cr (on basis of their turnover in previous financial year or in case of new registration obtained after 1st July 2017, expected turnover for current financial year), then in such cases GSTR-1 of August, 2017 is disabled and he can file details for August and September, 2017 in GSTR 1 of September,2017 and so on.
- Thus, taxpayers who opt for quarterly return filing will have to file GSTR-1 of the various tax periods in the following manner:
- For July: Monthly (by choosing July from drop down menu)
- For 2nd Quarter (August and Sept): Quarterly, by choosing Sept.
- For 3rd Quarter (Oct-Dec): Quarterly, by choosing December