2.2 million GST returns filed till 6 pm, deadline ends midnight
Nearly 2.2 million goods and services tax (GST) returns have been filed so far for August as businesses flocked the GSTN portal to submit their returns on Wednesday —the last day for tax filing.
Over 2.2 million returns were filed till 6 pm,a source said.
Return filing would continue till midnight.
This is the second month of return filing under the GST regime.
Similar to last month, businesses thronged the GST Network portal on the last day to pay taxes.
Nearly 4.5 million businesses had filed returns in July, fetching a revenue of Rs 95,000 crore to the exchequer.
Finance Minister Arun Jaitley had earlier in the day said that GSTN has the capacity to handle 100,000 returns per hour, which translates to 2.4 million returns in a day. But if majority of the taxpayers decide to pay taxes on the last day, then the system would have some trouble.
“Therefore I would appeal to everybody, it is in their interest (to file returns early),” Jaitley said.
To ease compliance burden, the GST Council has allowed businesses to file their initial tax returns in form GSTR3B in the first six months of GST roll-out till December.
Accordingly, the GSTR3B returns would have to be filed by the 20th of the next month, which means August returns need to be uploaded by September 20.
The GST Network (GSTN) had faced glitches during the GSTR3B filing for July, which had forced the government to extend the due date for filing of returns.
However, for August GSTR3B return filing, GSTN has handled over 80,000 returns per hour on Wednesday.
The Business Standard, New Delhi, 21th September 2017
Over 2.2 million returns were filed till 6 pm,a source said.
Return filing would continue till midnight.
This is the second month of return filing under the GST regime.
Similar to last month, businesses thronged the GST Network portal on the last day to pay taxes.
Nearly 4.5 million businesses had filed returns in July, fetching a revenue of Rs 95,000 crore to the exchequer.
Finance Minister Arun Jaitley had earlier in the day said that GSTN has the capacity to handle 100,000 returns per hour, which translates to 2.4 million returns in a day. But if majority of the taxpayers decide to pay taxes on the last day, then the system would have some trouble.
“Therefore I would appeal to everybody, it is in their interest (to file returns early),” Jaitley said.
To ease compliance burden, the GST Council has allowed businesses to file their initial tax returns in form GSTR3B in the first six months of GST roll-out till December.
Accordingly, the GSTR3B returns would have to be filed by the 20th of the next month, which means August returns need to be uploaded by September 20.
The GST Network (GSTN) had faced glitches during the GSTR3B filing for July, which had forced the government to extend the due date for filing of returns.
However, for August GSTR3B return filing, GSTN has handled over 80,000 returns per hour on Wednesday.
The Business Standard, New Delhi, 21th September 2017
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