Taxation - Indirect Tax
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GSTR-1 is the return to be furnished for reporting details of all outward supplies of goods and services made. In other words, it contains the invoices and debit-credit notes raised on the sales transactions for a tax period. GSTR-1 is to be filed by all normal taxpayers who are registered under GST, including casual taxable persons.
Any amendments to sales invoices made, even pertaining to previous tax periods, should be reported in the GSTR-1 return by all the suppliers or sellers.
The filing frequency of GSTR-1 is currently as follows:
(a) Monthly, by 11th* of every month- If the business either has an annual aggregate turnover of more than Rs.5 crore or has not opted into the QRMP scheme.
(b) Quarterly, by 13th** of the month following every quarter- If the business has opted into the QRMP scheme.
*Till September 2018, the due date was the 10th of every month.
*Till December 2020, was the end of the month succeeding the quarter.
Documents Needed For Proceeding
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