GSTR-3B vs GSTR-1
- December 29, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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GSTR-3B vs GSTR-1
Subject – Economy
Context – Taxmen can directly start recovery for mismatch in sales in GSTR-1, 3B
Concept –
- GSTR – 3B is a monthly summary return filed by a taxpayer by the 20th of the next month or 22nd/24th of month following a quarter. GSTR-3B discloses supplies made during the month along with GST to be paid, input tax credit claimed, purchases on which reverse charge is applicable, etc., and also makes a provision for the payment of taxes, if any, for the relevant month.
- GSTR – 1 is a monthly or quarterly return filed by taxpayers to disclose details of their outward supplies for the month – along with their tax liability. Here, invoice-wise details are to be uploaded so that the Government can keep a check on every transaction. This forms the basis for the recipient of supplies to accept the same and take the eligible input tax credit.