New FLASH SALE Dhamaka - Flat 60% Off on All Courses

    Question

    What is the primary purpose of GSTR-1 in the GST (Goods

    and Services Tax) system?
    A To report inward supplies of goods and services Correct Answer Incorrect Answer
    B To report details of all outward supplies of goods and services made Correct Answer Incorrect Answer
    C To calculate the total tax liability for a tax period Correct Answer Incorrect Answer
    D To request a refund of GST paid Correct Answer Incorrect Answer

    Solution

    GSTR-1 is the return to be furnished for reporting details of all outward supplies of goods and services made. In other words, it contains the invoices and debit-credit notes raised on the sales transactions for a tax period. GSTR-1 is to be filed by all normal taxpayers who are registered under GST.

    Practice Next