Business Economy 11 Oct 2017 Only 40 lakh or 62 p ...

Only 40 lakh or 62 per cent taxpayers file GSTR-1 for month of July

DECCAN CHRONICLE | DECCAN CHRONICLE
Published Oct 11, 2017, 2:01 pm IST
Updated Oct 11, 2017, 2:12 pm IST
GST is a pan-India taxation system that has subsumed all casacding tax rates.
 GST is a pan-India taxation system that has subsumed all casacding tax rates.

Mumbai: As many as 40 lakh or merely 62 per cent out of total taxpayers have filed their GSTR-1 return for the month of July under the goods and services tax, GST -- the newly introduced indirect tax regime, according to a report in the Financial Express.

"Only 40 lakh or 62 per cent of eligible taxpayers under the GST had filed the comprehensive outward supply return GSTR-1 for July at 10 am on Tuesday," the report quoted an unnamed government official as saying. The deadline for submission of GSTR-1 ended at the intervening night between October 10-11.

It was also reported that taxpayers indulged in slow pace of filing their respective returns. So far, only 82 per cent of total eligible taxpayers filed the summarised return GSTR-3B for July. The number was even lower at 75 per cent in August which has aroused curiosity of the tax department, the FE report adds.

An earlier report had cited a survey being conducted to find out reasons why the businesses upload all the required documents on GST Network in an unhurried way. Nearly 13 lakh assessees had filed the interim summarised August return (GSTR-3B) on September 20 last day, the FE report further says.

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