Press Trust of India
As many as 55 lakh GST returns have been filed for the month of January so far, GSTN Chairman Ajay Bhushan Pandey said.
The last date for filing initial GSTR-3B returns for a month is the 20th of the subsequent month. Hence, the sales returns for January has to be filed by February 20. However, businesses can continue to file returns after payment of late fee.
“The total number of 3B GST returns filed in the month of January till date is 55 lakh,” Pandey told reporters here.
The number is expected to go up when the government releases the GST collection figure later in the month as more businesses continue to file returns.
As per official data available, in December 56.30 lakh GSTR-3B were filed which fetched ₹86,703 crore revenue to the exchequer, while in November 53.06 lakh returns were filed with total revenue of ₹80,808 crore.
In October 50.1 lakh 3B returns were filed with revenue of ₹83,346 crore, while in September it was 42.91 lakh with tax collection of ₹92,150 crore.
The GST Council, chaired by Union Finance Minister Arun Jaitley and comprising State counterparts, had in November decided to slash late filing fee in order to help businesses cope with the system and file returns even at a later date.
Businesses with ‘nil’ tax liability now have to pay only ₹20 as late fee for delayed filing of return while for the rest, the fee is ₹50.
Panel discussion
Ahead of the GST Council meeting on March 10, a ministerial panel under Bihar Deputy Chief Minister Sushil Modi will meet here on Saturday to firm up the simplified “single-stage” return filing process.
In the run up to the meeting, key members of the return simplification committee Nandan Nilekani and CBEC Excise Commissioner Manish Kumar Sinha, along with GSTN Chairman Ajay Bhushan Pandey, met Finance Secretary Hasmukh Adhia.
After the meeting Pandey said over the last two months the return simplification committee has held series of meetings with State governments and trade associations. “On Saturday, the GoM will meet and discuss various available options on GST return simplification,” he said.
The GoM under Sushil Modi will look at finalising the simplified return filing system on February 24, which will be then taken up by the GST Council on March 10.
“Any system that emerges has to ensure that the government revenue is protected and it has to be convenient for taxpayers,” Pandey said. It will “mostly be a single-stage” return where invoices would be matched while buyer makes the payment for supplies. The GoM would also consider separate dates of return filing for MSMEs and large businesses.