Monday, September 24, 2018

What is GSTR 1? How to file it? Aster billing

What is GSTR 1? How to file it? Aster billing





For traders with turnover upto Rs 1.5 crore annually, GSTR-1 needs to be filed on quarterly basis while that for traders having turnover above that needs to be filed every month. The late fee for filing GSTR-1 is Rs 50 per day after the due date, and Rs 20, in case of nil returns.


Once GSTR-1 return is filed, a trader does not need to pay any tax immediately. The tax has to be paid at the time of filing GSTR-3B (until March 2018).


Composition dealers need not file GSTR-1. Such traders need to file GSTR-4 every quarter.














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