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First filing under GST yields Rs 42,000 crore

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First filing under GST yields Rs 42,000 crore
As much as Rs 42,000 crore has as taxes so far in the under the new services tax (GST) regime, are expected to swell further cycle closes later this week.
Asenior official said that crore has come in as Integrated is levied on interstate movement and another Rs 5,000 crore demerit goods like cars and The remaining Rs 22,000 in as Central GST and State would be split equally between and state governments.
"Tax deposited till this Rs 42,000 crore," the official far, one million taxpayers filed returns and another two have logged in and return forms.
"We are seeing good compliance and estimation is that 9095 cent of the assesses will returns and pay taxes," he Under the GST regime, which was implemented from July 1, businesses are expected to file the monthly tax return.
Tax for the first month is to be filed by an extended deadline of August 25. The deadline was extended as the tax return filing website snapped justaday before the due date ended on August 20. GST unifies more thanadozen central and state levies including excise duty, service tax and VAT, and the revenue generated is to be split equally between the Centre and states.
The Business Standard, New Delhi, 22th August 2017

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