The number of active GST taxpayers has risen 33% in the past five years to 13.96 million till April 2023.
The total number of GST returns filings have risen 56% to 11.28 million in five years till April 2023, on account of improvement in compliance by taxpayers, the finance ministry said in a post on ‘X’ on Sunday.
“With effective policy and systemic changes in GST, the compliance level in GST return filing has improved over the years,” the finance ministry said.
The number of active GST taxpayers has risen 33% in the past five years to 13.96 million till April 2023.
According to data shared by the ministry, 90% of eligible taxpayers are filing GSTR-3B returns by the end of April, up from 68% in FY18. Form GSTR-3B is a summary return, which taxpayers file to declare their GST liabilities for a particular tax period.
“The GSTR – 3B return filing (has been) made easier with enhancement in the form and introduction of electronic credit and re-claimed statements,” the ministry said.
Further, the ministry also posted that 2023 has been a year of “new highs” in a single day – in terms of highest e-way bill generation, highest payment transactions, highest tax collection and highest return filing.
On September 30, record 4.23 million e-way bills were generated, and on April 20, highest payment transactions to the tune of 978,000 took place. The same day also witnessed highest tax collections worth Rs 68,228 crore. And on July 20, highest return filings were made at 3.23 million.
Source: https://www.financialexpress.com/policy/economy-gst-return-filings-up-56-per-cent-to-11-3-million-in-5-years-mof-3340798/
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