Is GSTR 1 Monthly or Quarterly?

If you're a registered taxpayer under the Goods and Services Tax (GST) regime, you're required to file various types of returns periodically. One such return is GSTR 1, which is a statement of outward supplies of goods or services. One question that often arises among taxpayers is whether GSTR 1 is to be filed monthly or quarterly.

The answer to this question is that it depends on the turnover of the taxpayer. Taxpayers with an annual turnover of up to Rs. 1.5 crores have the option to file GSTR 1 on a quarterly basis, while those with a turnover exceeding Rs. 1.5 crores must file it on a monthly basis. However, it's important to note that this turnover threshold applies on a PAN (Permanent Account Number) basis and not on a GSTIN (Goods and Services Tax Identification Number) basis.

For example, if a taxpayer has multiple GSTINs but a single PAN, the turnover of all the GSTINs will be aggregated for determining whether the taxpayer is eligible to file GSTR 1 on a quarterly basis or not. Similarly, if a taxpayer has a turnover of less than Rs. 1.5 crores but opts for the monthly filing of GSTR 1, they will have to continue filing it monthly for the rest of the financial year.

It's important for taxpayers to comply with the applicable GSTR 1 filing frequency to avoid penalties and interest on late or incorrect filing. Quarterly filers have to file their GSTR 1 by the 13th of the month succeeding the quarter, while monthly filers have to file it by the 11th of the month succeeding the month to which the return pertains. Taxpayers can file their GSTR 1 returns online on the GST portal, which is a user-friendly platform designed for ease of use.

In conclusion, GSTR 1 filing frequency depends on the turnover of the taxpayer, and taxpayers must comply with the applicable filing frequency to avoid penalties and interest. Quarterly filers can file their returns by the 13th of the month succeeding the quarter, while monthly filers have to file it by the 11th of the month succeeding the month to which the return pertains. The GST portal is a user-friendly platform for online filing of GSTR 1 returns.