GSTR1 filing Process has been defined in section 37(1) of GST Act. Every registered person, other than an Input Service Distributor, a non-resident taxable person and a person paying tax under the provisions of Section 10 or section 51 or section 52, shall furnish, electronically, the details of outward supplies of goods or services or both effected during a tax period in Form GSTR1. GSTR1 filing process is discussed in details below
GSTR1 is required to file by every person as per section 37(1) even if there is no transaction or outward supply for a particular tax period or quarter.
In order to file NIL GSTR1 , a dummy entry in any column of online Form GSTR1 in GST Portal is required to be entered and the summary is required to be generated before filing the form. This process takes 20 to 30 minutes for filing a single GSTR1 even if it is NIL.
To solve this issue and save time in filing GSTR1 , Clear Tax has introduced GST Companion Tool , by which a user can upload and file the GSTR1 for any given tax period either monthly or quarterly directly on a single click without any hustle . To understand the steps on how to file GSTR1 with Clear Tax refer video given below.
GSTR1 is required to be filed by a regular registered person quarterly if the aggregate turnover during the last financial year does not exceed Rs Two Crore and monthly filing is required if aggregate turnover is more than Rs two Crores or if turnover is less than two crores but opted for monthly filing.
Steps to file GSTR1 with Clear Tax :
Step 1 Signup with the tool using the details as required at the time of signing up.
Step 2 – Login with the credentials used for registration .
Step 3 – Add Client to the tool for filing gst returns.
Step 4 – Choose a client from the drop down and Select File NIL return option.
Step 5 – Now click GSTR1 Nil Return TAB
Step 6 – Choose File with EVC or DSC to directly upload the GSTR1 data to GST portal by giving you user name and password for gst portal.
Step 7 – Once you click to file with Evc or DSC Clear Tax will automatically direct you to the portal for filing and will ask to generate GSTR1 summary after which filing can be done through EVC received on Email or Mobile.
Cross check the data before filing as this process cannot be reversed and once filed It will be final.