GSTR 1 Filling

GSTR-1 is a monthly or quarterly return that states the details of all outward supplies i.e. turnover. The turnover of the Business is considered to determine whether the return should be filed monthly or quarterly. A GST return is a document containing details of all income/sales and/or expense/purchases that a taxpayer (every GSTIN) is required to file with the tax administrative authorities. This is used by tax authorities to calculate net tax liability.

GSTR-3B vs GSTR-1: Comparison :

• Avoid interest & penalties due to the short payment of tax.
• Know if any invoice is missed out on or duplicated.
• Allow the recipient to claim an accurate input tax credit based on his GSTR-2A & GSTR-2B.
• Stay GST compliant and improve the GST compliance rating!