Revolutionary Raja Ram for Tax & Economic Reforms

@abhishekrajaram

9 months ago

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Number of GST return filers up 65% to 1.13 crore in five years The Finance Ministry said that the number of GST return filers rose by about 65% to 1.13 crore in 5 years till April 2023.

The number of active taxpayers registered under GST too increased from 1.06 crore as of April 2018 to 1.40 crore As per data shared by the ministry, 90%of eligible taxpayers are filing GSTR-3B returns by the end of the filing month in current fiscal year, up from 68% in 2017-18.

Simplification in Rules and Procedure in GST has resulted in increase in return filing percentage by eligible taxpayers,” the ministry said.

Goods and Services Tax (GST) was rolled out on July 1, 2017. The number of GSTR-3B filers increased from 72.49 lakh in April 2018, to 1.13 crore as of April 2023.

GSTR-3B is the monthly return form for filing outward supplies details and tax payment.

“With effective policy and systemic changes in GST, the compliance level in GST return filing has improved over the years,” the ministry said. Increase in return filing across the years indicates improvement in compliance level, the ministry added.

Monthly collection from GST came in at R1.68 lakh crore in November. It is for the sixth time that gross GST collection has crossed R1.60 lakh crore mark in current fiscal.

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