How to File GST RET-1 (New GST Return)

By | February 13, 2020
(Last Updated On: February 13, 2020)

Form GST RET 1 – Filing of Return by Normal Taxpayers (Monthly)

About Form GST RET-1

  1. What is Form GST RET-1?

Form GST RET-1 is a consolidated return auto-drafted based on Form GST ANX-1 and Form GST ANX-2. Form GST RET-1 provides the details of tax liability for a given tax period, ITC on the procurements and details of tax paid. The details of tax liabilities and Input Tax Credit gets auto-populated from Form GST ANX-1 and Form GST ANX-2 respectively.

  1. What are the pre-requisites for filing Form GST RET-1?

Pre-requisites for filing Form GST RET-1 are:

  • Taxpayer must be a normal/ casual taxpayer including SEZ Unit and SEZ Developer and should have an active GSTIN.
  • Taxpayer must have valid login credentials (i.e. User ID and password).

  1. Who is required tofile Form GST RET-1?

Form GST RET-1 is required to be created and filed by a normal taxpayer including a casual taxpayer who have selected to file the return on monthly basis.

Filing Form GST RET-1

  1. From where can I file Form GST RET-1?

Login to the GST Portal. Navigate to Services > Returns > New Return (Trial) > Select the Financial YearReturn Filing PeriodForm/Return (as RET-1) and Preparation Mode (as Online) > PROCEED to file Form GST RET-1.

  1. Is it mandatory to file Form GST RET-1?

It is mandatory to file Form GST RET-1 even if there is no business activity during the period of return. Taxpayer is required to file NIL Form GST RET-1 form in such cases.

  1. When can I file NIL Form GST RET-1?

Nil Form GST RET-1 can be filed by you, if you have:

  • Not made any outward supply (commonly known as sale); AND
  • Not received any goods/services (commonly known as purchase); AND
  • No other liability to report including interest; AND
  • No input tax credit to be claimed or reversed.

  1. Is there any Offline Tool to prepare Form GST RET-1?

No, there is no offline tool for preparing Form GST RET-1.

  1. Is there any late fee in case of delayed filing of Form GST RET-1?

Yes, there is late fee, in case of delay in filing of Form GST RET-1, beyond the due date. Interest, if any, needs to declared by the taxpayer at the time of filing of Form GST RET-1.

  1. Can I make partial payment and file Form GST RET-1?

Yes, you can make partial payment and file Form GST RET-1 in case of Form GST RET-1, ONLY for tax liability.

10. What should I do if my cash balance in Electronic Cash Ledger is less than the amount required to offset the liabilities?

If available cash balance in Electronic Cash Ledger is less than the amount required to offset the liabilities, then additional cash required to be paid by taxpayer is shown in the ‘Additional cash required’ column. You may create challan for the payment of this amount directly by clicking on the ‘CREATE CHALLAN’ button.

11. Will the complete Form GST RET-1 form will get auto-drafted based on Form GST ANX-1 and Form GST ANX-2?

No, complete return in Form GST RET-1 will not be auto-drafted based on Form GST ANX-1 and Form ANX-2. There are few user input cells, which is be required to be provided by the taxpayers. However, these cells are optional fields.

Previewing and Signing Form GST RET-1

  1. Can I preview Form GST RET-1 before filing?

Yes, you can view/download the preview of Form GST RET-1 by clicking on ‘DOWNLOAD GST RET-1 (PDF)’ before filing on the GST Portal.

  1. What are the modes of signing Form GST RET-1??

You can file Form GST RET-1 using DSC or EVC.

  • Digital Signature Certificate (DSC)– Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. A digital certificate can be presented electronically to prove one’s identity, to access information or services on the Internet or to sign certain documents digitally. In India, DSC are issued by authorized Certifying Authorities. The GST Portal accepts only PAN based Class II and III DSC. To obtain a DSC, please contact any one of the authorised DSC-issuing Certifying Authorities: http://www.cca.gov.in/cca/?q=licensed_ca.html
  •  Electronic Verification Code (EVC)– The Electronic Verification Code (EVC) authenticates the identity of the user at the GST Portal by generating an OTP. The OTP is sent to the mobile phone number of the registered mobile phone of Authorized Signatory filled in part A of the Registration Application.

Post Filing of Form GST RET-1

14. What happens after Form GST RET-1 is filed?

After Form GST RET-1 is filed:

  • ARN will be generated on successful filing of the Form.
  • Status of GST RET-1 will be changed to ‘Filed’ from ‘Not filed’.
  • An SMS and e-mail will be sent to the taxpayer on the successful filing of Form GST RET-1.
  • Electronic Cash Ledger, Electronic Credit ledger and Electronic Liability Register Part-I will get updated after filing of Form RET-1.
  • Advance tax Statement, Provisional tax statement and Negative liability statement will get updated, if there are details present in Form GST RET-1.
  • The documents which you have marked as ‘Pending’ in Form GST ANX-2 will flow to next tax period. The documents which are marked as ‘Rejected’ in Form GST ANX-2 will get auto-drafted to supplier in Form GST ANX-1.
  • Rejected documents which are not edited in Form GST ANX-1 will flow to next tax period.

 

15. I have filed Form GST RET-1. Can I revise it now?

Form GST RET-1 once filed, cannot be revised. However, amendment retur

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