Monthly GST Returns (GSTR-1 & 3B)

Monthly GST returns are periodic filings that summarize a business’s sales and tax liabilities for a specific month. GSTR-1 is used to report details of all outward supplies (sales), which then reflects in the buyers’ records for their tax credit. GSTR-3B is a self-declared summary return where the taxpayer calculates the total tax payable after adjusting for Input Tax Credit. Filing these accurately and on time is crucial to maintain a good “compliance rating” and avoid blocking of the client’s E-Way Bill facility.