GST
GSTR-1
Monthly/quarterly return for outward supplies (sales) filed by GST-registered businesses.
Full Definition
GSTR-1 is the return for outward supplies — all sales made during the month/quarter. It includes B2B supplies (invoicewise), B2C supplies, credit/debit notes, exports, and advance receipts. Monthly filers must file by the 11th of the following month. Quarterly filers (QRMP scheme) file by the last day of the month after the quarter. The details in GSTR-1 auto-populate in buyers' GSTR-2A and GSTR-2B, allowing ITC claims. Non-filing blocks ITC for buyers.
More GST terms
GSTIN (Goods and Services Tax Identification Number)
Unique 15-digit registration number assigned to every GST-registered business.
GSTR-3B
Monthly summary return where GST liability is declared and payment made.
GSTR-9 (GST Annual Return)
Annual reconciliation return filed by regular GST taxpayers, summarising the full year's GST transactions.
ITC (Input Tax Credit)
Credit available to GST-registered businesses for GST paid on business purchases, which reduces their GST payable.
GSTR-2B
Auto-generated monthly statement showing ITC available from suppliers' GSTR-1 filings.