GSTR-1 and GSTR-3B are two important GST returns that businesses need to file regularly. Here is a brief overview of each return and their key differences:

GSTR-1

Overview: GSTR-1 is a monthly or quarterly return that provides details of all outward supplies made by a registered taxpayer during a specific tax period. It includes details of sales invoices, debit notes, credit notes, HSN/SAC codes, and GST rates.

Key Points:

• Filed by normal taxable persons, except composition scheme taxpayers and TDS/TCS entities
• Monthly/quarterly filing based on turnover
• Due date: 11th of the succeeding month (monthly) or 13th of the month succeeding the quarter-end (quarterly)
• Documents required: Sales invoices, debit/credit notes, proof of payment, HSN/SAC codes, tax rates

GSTR-3B

Overview: GSTR-3B is a simplified monthly return that provides a summary of outward and inward supplies, ITC claimed, and net GST liability for a particular tax period.

Key Points:

• Filed by all normal taxable persons, except composition scheme taxpayers, ISDs, and those dealing exclusively in exempted goods
• Monthly filing for all taxpayers
• Due date: 20th of the succeeding month or 24^th of the succeeding month (in case of QRMP taxpayers)
• Documents required: Summary of outward supplies, details of inward supplies, ITC claimed, tax rates, GST payment details

Key Differences: