To improve the taxpayer experience, a new and upgraded version of GSTR-1/IFF has been made available on the GST Portal. These improvements will make saving GSTR-1 information on the GST Portal more efficient and user-friendly. Furthermore, modifications are being applied incrementally and gradually in order to take advantage of the taxpayer’s experience with the changes and guarantee that they adjust seamlessly. The adjustments would be introduced in two phases to ensure that taxpayers are not inconvenienced and that important feedback is taken into consideration in the second step.

What is GSTR-1?

Every month/quarter, each registered tax payer is required to file the Goods and Services Tax Return 1.It must detail all of the tax payer’s sales and supplies of goods and services during the tax period. Composition vendors, non-resident foreign taxpayers, and those with a Unique Identification Number are exempt from filing this return.

Due date for GSTR-1

Small taxpayers having an aggregate sales of less than 5 crores can file quarterly GSTR 1 and GSTR 3B beginning January 1, 2021. The GSTR 1 return will be due on the 13th day of the following month in the following quarter. Taxpayers, on the other hand, can continue to submit invoices on a monthly basis.

Prerequisites for GSTR-1 Filing

  • You must have a 15-digit GSTIN based on your PAN if you are a GST registered tax payer.
  • You must keep precise invoices with unique serial numbers for all of your transactions, including intra-state and inter-state transactions, business-to-business (B to B) and retail (B to C) sales. This includes stock transfers across your company’s multiple locations in different states, as well as transactions involving exempt and non-GST supplies.
  • You’ll need an OTP from your registered phone to validate your return using an EVC (electronic verification code) or a digital signing certificate (of class 2 or higher). You can also file your GST returns using an Aadhar-based e-sign.

What are the requirements for filing GSTR-1?

To file GSTR-1, you must have the documents and information listed below on hand.

  • A real and authentic goods and service tax identification number (GSTIN)
  • To access the portal, you’ll need your ID and password.
  • Unless you can e-sign the form based on your supplier classification, you’ll need a valid digital signature certificate (DSC).
  • If you’re planning to e-sign the form, you’ll need your Adhaar number.
  • The Adhaar card’s cellphone number can be accessed.

What are the improvements made?

Returns Dashboard > Selection of Period > Details of outward supplies of goods or services is where you’ll find GSTR-1. GSTR-1 > Fill in the blanks online.

In Phase 1, the following is an overview of the upgraded functionality and its benefits:

  1. Dashboard for GSTR-1 has been reorganised – With the following modifications, taxpayers will now have a better online user interface in GSTR-1/IFF:
  2. ADD RECORD DETAILS and AMEND RECORD DETAILS have been divided into two sections in GSTR-1/IFF.
  • The ADD RECORD DETAILS part will have all tables/tiles for adding new details, while the AMEND RECORD DETAILS section will have all tables/tiles for revising already filed details. The reorganization of tables and tiles will make it easier for taxpayers to add or change record details in the GSTR 1/IFF.
  • By default, the ADD RECORD DETAILS part is extended (visible), whereas the AMEND RECORD DETAILS portion is compressed (hidden). These sections can be expanded or collapsed as needed by taxpayers. As it has been observed that only around 1% of details added are amended by taxpayers, that it why it will be in collapsed mode.
  • For easier access, the e-invoice advisory and support buttons have been placed to the top of the dashboard page. It’s also worth noting that the e-invoice requirements only apply to a small group of taxpayers with annual revenue exceeding a certain threshold.
  • Table/Tile Document Counts– Color coding has been used to make the document count for each tile (table) more informative. The status of submitted documents (Saved, Pending, Error) as well as their count will be accessible. From the dashboard, the taxpayer may now see if there are any pending or error records in any of the GSTR-1/IFF tables. The system will update the count of records in the tiles in real time, making reconciliation easier. If any record entered by the taxpayer is incorrect, the tile will be highlighted in red. For your convenience, a sample image of the same is provided below.

Enhancement in B2B and CDNR table/tile- Taxpayers will now be able to access a new record details table with the information of the recipient-wise count of records in the B2B and CDNR tables/tiles. The columns in the record details table will be as follows:

i. Taxpayer type – This column will show the type of receiving taxpayer (Regular, SEZ, and Composition).

ii. Processed invoice — this column will provide a hyperlink to the number of processed invoices. When the taxpayer clicks it, they will be taken to the document details page, where they will be able to see all of the records that have been added for the specific beneficiary (s).

iii. Pending/erroneous invoices – This column will provide a hyperlink to the number of pending bills. Taxpayers can go to the pending/erroneous records details page by clicking it to see all the records for the respective recipient that are in the pending or error status (s).

  • Records per page feature – The records per page function will now be available in all tables under the ADD RECORD DETAILS area, allowing for easier viewing. This feature will allow taxpayers to select the number of records to be displayed on each page. The Records per page setting is set to 10 records per page by default, however it can be adjusted to 50 records per page.

5. GSTR-1/IFF Filing Procedures – A new check has been added to the system to see if the taxpayer has added any additional records after the summary has been generated. Taxpayers should be aware that the flow of funds will be disrupted in such a scenario. If new records are uploaded, the SUBMIT and PREVIEW buttons will be blocked until a fresh summary is generated once the records have been updated. This check will verify that the GSTR-1/IFF is always filed with the accurate and up-to-date summary, and that no errors occur.

Following the steps outlined below, a taxpayer can upload details of outward supplies and file GSTR-1/IFF:

  • The taxpayer can add or update records in the GSTR-1/IFF tables.
  • After saving the entries, the taxpayer should click the GENERATE SUMMARY button.
  • The system will allow the PREVIEW and SUBMIT buttons after the summary has been successfully generated.
  • If the taxpayer wants to check the summary of GSTR-1/IFF, he or she can use the PREVIEW option to get the PDF version of the summary.
  • Before SUBIT/FILE of GSTR-1/IFF, the taxpayer can make any necessary revisions. If additional records are entered after the summary is generated, then SUBMIT and PREVIEW buttons will be hidden until a new summary is prepared by clicking the GENERATE SUMMARY button after changing the records.
  • In the event that the most recent summary is not available or generated, the taxpayer will be notified to generate a new summary.
  • After making modifications to GSTR-1/IFF, the taxpayer must select the Generate summary option before submitting or filing GSTR-1/IFF.

The second phase of the GSTR-1 enhancement will give taxpayers an improved GSTR-1 online summary view, recipient(s)-specific summary PDF, and eliminate the need to SUBMIT before FILE. In due course, the taxpayers will be informed of the specifics of the situation.

Get in touch with our GST consultants for GSTR-1 filing in Tambaram, Chennai.