What is GSTR -1 and 3B?

Question

Accepted Answer

GSTR-1 is a monthly or quarterly return that contains details of outward supplies of taxable goods and/or services. GSTR-3B is a monthly summary return for taxpayers to declare their summary GST liabilities for a particular tax period.

GSTR-1 is filed by registered taxpayers to provide details of outward supplies of goods and/or services.
GSTR-3B is a summary return where taxpayers declare their summary GST liabilities for a specific tax period.
Both GSTR-1 and 3B are important for GST compliance and reconciliation.
GSTR-1 needs to be filed monthly or quarterly depending on the turnover of the taxpayer.
GSTR-3B is a monthly return that needs to be filed by the 20th of the following month.

What is GSTR -1 and 3B?

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