October Sees Highest Monthly GST Returns Filed Within Due Date
Around 56 percent of registered taxpayers filed their GSTR-3B returns for October by Nov. 20
As many as 43.67 lakh businesses have filed the initial Goods and Services Tax returns for the month of Oct. – the highest monthly return filing within due date.
Around 56 percent of registered taxpayers filed their GSTR-3B returns for October by Nov. 20, the GST Network said in a media statement today. GSTR-3B filings for Sept. and August stood at 39.33 lakh and 28.46 lakh, respectively.
“About 44 percent taxpayers have not filed their GSTR-3B by the due date which is still high percentage of non-compliance,” Abhishek Jain, partner at EY India to BloombergQuint. “The government should connect with the defaulting taxpayers and find out the reason for non filing and also encourage these taxpayers to be compliant on time,” he added.
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Last Minute Rush
Besides, more taxpayers filed their returns for October on the last day of the scheduled deadline compared to any other day, the statement added. At 14.76 lakh taxpayers, the GSTN portal saw the maximum number of returns being filed on Nov. 20, the last day for filing GSTR-3B returns, the release said.
“The trend of taxpayers filing their returns on the last day continues…Taxpayers are urged to file their returns early to avoid last minute hassles” Prakash Kumar, chief executive officer of GSTN said in the statement.
More taxpayers in Punjab filed their Goods and Services Tax returns for the month of October as of November 20 compared to any other state. About 73.09 percent of the taxpayers in Punjab filed their GSTR-3B returns for Oct. by Nov. 20, the GSTN said.