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Components of valid GST Return for Outward Supplies made by the Taxpayer (GSTR-1)

Para 3.01 - Draft-Bills-Reports - Business Process for GST on GST Return - Goods and Services Tax - Para 3.01 - 3.1. : 3.1.1 This return form would capture the following information: 1. Basic details of the Taxpayer i.e. Name along with GSTIN 2. Period to which the Return pertains 3. Gross Turnover of the Taxpayer in the previous Financial Year. This information would be submitted by the taxpayers only in the first year and will be auto-populated in subsequent years. 4. Final invoice-level suppl .....

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his value, State-wise summary of supply statement will be filed covering those invoices where there is address on record. The address of the buyer has to be mandatorily reflected in every invoice having a value of ₹ 50,000/- or more. (Model GST Law may provide for such a provision). Invoices for a value less than ₹ 50,000/- that do not have address on record will be treated as intra-state supply. In other words, State-wise summary of inter-State supply would be filed covering (a) tho .....

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ing Codes for Services will be mandatory initially for all taxpayers with turnover in the preceding financial year above ₹ 5 Crore (For the first year of operations of GST, self-declaration of turnover of previous financial year will be taken as the basis as all India turnover data will not be available in the first year. From the 2nd year onwards, turnover of previous financial year under GST will be used for satisfying this condition). b) For taxpayers with turnover between ₹ 1.5 C .....

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ng dealers may not be required to specify HSN at 2-digit level also. e) Prescribed Accounting code will be mandatory for those services for which Place of Supply Rules are dependent on nature of services to apply the destination principle, irrespective of turnover. f) HSN Codes at 8-digit level and Accounting Codes for services will be mandatory in case of exports and imports. (iv) The above parameters with respect to HSN code for goods and Accounting Code for services will apply for submitting .....

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code and the Service Accounting Code (SAC), the latter will be prefixed with s . The taxpayers who have turnover below the limit of ₹ 1.5 Crore will have to mention the description of goods/service, as the case may be, wherever applicable. (v) For all Intra-State B2C supplies (including to non-registered Government entities, consumer / person dealing in exempted / NIL rated / non GST goods or services), consolidated sales (supply) details will be uploaded. However a dealer may at his opti .....

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