Filing GSTR-1 Quarterly Returns

In order to make compliance easier for the small and medium businesses, it was decided to introduce the quarterly GST returns, in the 22nd GST Council meeting held on 10th November, 2017. The businesses with aggregate turnover of up to 1.5 crores are allowed to opt for quarterly returns. For July – September’17, the last date to file the quarterly GSTR-1 returns is 10th January, 2018. To know more about GST Return filing due dates, please read Revised GST Return Dates – The Full Calendar

Ever since quarterly returns were announced, it created a little confusion about the GSTR-1 return filing procedure. The confusion here is for the businesses who had already filed the return for the month of July, 2017 and who would like to opt for quarterly GSTR-1 return. They were left in search of the answers to the following questions:

1. I have filed my July month’s GSTR-1, should I once again include my July’17 return data in my quarterly GSTR-1 for Jul-Sep’17? Or
2. Should I be filing GSTR-1 separately for August and September, 2017 and from October onwards file quarterly returns? Or
3. Since July’17 GSTR-1 return is already filed, should I need to consolidate August and September, 2017 GSTR-1 return data and file the GSTR-1 returns?

Apart from the above, all of us were eagerly waiting for the GST portal to support the quarterly GSTR-1 return filing.

All of the above questions seem fair looking at the nearing deadline to file the GSTR-1 returns by 10th January, 2018. In this blog, we will answer all the above questions related to GSTR-1 quarterly returns.

GSTR-1 quarterly return filing in GST portal

The good news is that the GST portal is now enabled with GSTR-1 quarterly returns. In the GST Portal, on navigating to the returns dashboard and after selecting the return period, the option to opt for quarterly GSTR-1 is available. As shown below, on the basis of the turnover, the taxpayer needs to select ‘Yes’ to opt for quarterly GSTR-1 returns or ‘NO’ to continue with the monthly returns.

Please note, once you choose the option “Quarterly”, you cannot change this option in the remaining part of the financial year 2017-18. Thus, you will be required to file Quarterly returns and cannot opt for the Monthly filing of returns during the current financial year.

Filing of quarterly GSTR-1 returns for July- September, 2017.

Business who have opted for GSTR-1 quarterly returns are required to file the consolidated return for August and September, 2017. This means, that the return data for August and September, 2017 needs to be consolidated and filed in the GST portal. To file the August and September, 2017 GSTR-1, you need to select the return filing period as ‘September’ from the drop-down menu in the return filing dashboard.

Let us categorize GSTR-1 quarterly filing into different scenarios:

• Business who have already filed GSTR-1 for the month of July,
• Business who are yet to do filing GSTR-1 for the month of July, 2017

Businesses who have already filed GSTR-1 for the month of July, 2017.

Businesses who have already filed GSTR-1 for the month of July, 2017, need to file only the August and September, 2017 consolidated return. To file, from Return Dashboard, select the return filing period ‘September, 2017’ and file the consolidated details. The following are the key points for filing GSTR-1 quarterly returns:

1. Remember to select the return filing period as ‘September’ to file the return details for August and September, Even for subsequent quarterly returns, you always need to select the last month of the quarter from the drop-down menu. For example for OCT-DEC, you need to select return filing period as ‘December’.
2. The option for filing GSTR-1 of August month will be disabled. You will be allowed to file only the consolidated return for August and September,
3. On opting for quarterly GSTR-1 returns, previously saved or filed details of GSTR-1 for August and September, 2017 will be ignored and the details will vanish from GST Portal. You have to once again file a consolidated return for both the months. However, GSTR-1 for July month will be retained.
4. You will not be allowed to revise GSTR 1 for July 2017. However, any amendment relating to invoices and other relevant details of July 2017 can be made through the amendment Table (Table 9).

Businesses who are yet to complete filing GSTR-1 for the month of July, 2017

Businesses who are yet to file the GSTR-1 for July, 2017, will have to first file GSTR-1 for July and then file GSTR-1 for August and September, by selecting the return period as ‘September’. The rest of the points discussed in the previous section will hold good for this scenario as well.

Conclusion

The businesses must take utmost care in calculating the aggregate turnover and accordingly opt for quarterly return. This is because, once the option is exercised, it cannot be rolled back. While the quarterly GST returns are aimed at simplifying the compliance requirement but you can leverage on it only with the help of the right GST software which supports the quarterly filing of returns and timely updates on the changes recommended by the GST Council.