GST Return Filing has increased to over 85 percent from 60 percent
According to V Rama Mathew, Member-Tax Policy at the Central Board of Indirect Taxes and Customs, the percentage of Goods and Services Tax (GST) return files has increased from 60 percent about two years ago to over 85 percent at this time (CBIC).
At a post-budget seminar that examined tax-related measures and was organised by the Associated Chambers of Commerce, Mathew said, “Two years ago, we would be thrilled if we had 60 percent GST Return filings, but now they have grown to above 85 percent GSTR (GST Return) filings.”
The Ministry of Finance said two days ago that GST receipts in January rose sharply to above Rs 1.55 lakh crore, the second-highest amount ever.
“Various initiatives to broaden the tax base and boost compliance have been undertaken during the past year. The percentage of GST returns (GSTR-3B) and statement of invoices (GSTR-1) filed by the end of the month has increased over time, according to the government.
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