BuzzBytes New Delhi, Dec 17: The number of GST return filers has witnessed a significant surge of approximately 65%, reaching 1.13 crore in the 5 years leading up to April 2023, indicating improved compliance among taxpayers, as stated by the finance ministry on Sunday.
Moreover, the count of active taxpayers registered under GST has risen from 1.06 crore in April 2018 to 1.40 crore. According to ministry data, 90% of eligible taxpayers are now filing GSTR-3B returns by the end of the filing month in the current fiscal year, a notable increase from 68% in the initial year of GST rollout (2017-18).
The ministry attributes this rise to the simplification of rules and procedures in GST, leading to a higher percentage of eligible taxpayers fulfilling their filing requirements.
The introduction of a nationwide Goods and Services Tax (GST) on July 1, 2017, integrating various local taxes, has played a pivotal role in shaping these positive trends. The number of GSTR-3B filers has surged from 72.49 lakh in April 2018 to an impressive 1.13 crore as of April 2023.
GSTR-3B serves as the monthly return form for detailing outward supplies and tax payments. The finance ministry emphasizes that effective policy and systemic changes have contributed to the enhanced compliance level in GST return filing.
The consistent increase in return filing over the years is seen as a positive indicator of improved compliance, reflecting the impact of policy and procedural enhancements in the GST framework.
In November, the monthly GST collection reached Rs 1.68 lakh crore, marking the sixth time in the current fiscal year that gross GST collection has surpassed the Rs 1.60 lakh crore mark.
Finance Minister Nirmala Sitharaman highlighted the upward trend in GST collection on an annual basis since its rollout in July 2017, with an average gross monthly collection of Rs 1.66 lakh crore in the current fiscal year. Notably, the collection reached a record Rs 1.87 lakh crore in April.
