11% Rise in GST Return Filings for the month of October

11 Percent Bump in October GST Filings

A bump of 11% has been registered in GST compliance for the month of October over the previous month as 4.4 million assesses filed their transaction summaries in October stated in an official statement by GSTN. In the month of September, over 3.9 million assessees filed their returns.

The statement further expounded that the number of assessees who filed their GSTR-3B showed a “marked improvement” for October till 20th November 2017.

Prakash Kumar, CEO, GSTN said that the “steady increase” in filings was encouraging and cited 56% registered taxpayers had filed their GST returns by October 30.

The trend of taxpayers filing their returns on the last day continues though. Taxpayers are urged to file their returns early to avoid last minute hassles,” Kumar said.

On 20 November, around 1.5 million taxpayers filed their returns which is the highest number of filings in a day.

Around 73% of taxpayers in Punjab filed their GSTR 3B returns for the month of October by the stipulated deadline making Punjab the top compliance state of the country.

In order to raise compliance levels, the GST Council has undertaken several steps such as deadline relaxations, waiver of late fee, suspension of invoice matching and simplification of forms under GST.