What is GSTR-1 ?
According to Goods and Services Tax Act,2017 ther are various GSTR return to file deatils of sale and purchase made during the relevant period of GSTR return. GSTR-1 is one of those GSTR return it need to file monthly or quarterly depend on sale turnover or taxpayer choice. It is a sales return . GSTR-1 coutain all sale detail like
Date of Invoice
GSTIN no of purchaser
Total value of sale invoice
Rate or rates of goods or services
Each invoice wise sale made to registered person enter in B to B table.
When to File GSTR-1
There are two option to
The small taxpayers with aggregate turnover of less than 5 crores can file quarterly GSTR 1 and GSTR 3B. The due date for filing the GSTR 1 return will be the 13th of the consecutive month in the succeeding quarter. However, the taxpayers can continue to submit invoices every month.
If aggregate turnover is more than 5 crore need to file monthly GSTR-1