AnalysisBanking & FinanceFinanceFinanceInFocusLimeLightNews

64.42% First GST Filing Turnout for July: Finance Ministry

Sharing is caring!

Under the Goods and Services Tax (GST) regime implemented from July 1, 2017, over 64.42 per cent of the registered tax payers filed returns for the first month of July. This was supposed to be filed by 28th of August, data from Finance Ministry reveals.

According to the data, keeping aside the taxpayers who have registered with the GSTN in August 2017 and the composition dealers, the total number of tax payers that were supposed to file the returns for July 2017 stood at 59.57 lakhs.

Of the 59.57 lakh taxpayers, as on 29th August, 2017, 38.38 lakh returns have been filed, which is 64.42% of the total number of returns, that were to be filed for the month of July 2017.

With regard to the revenue of GST paid under different heads upto 29th August, , the amount stood at Rs.92,283 crore.  Of which the total CGST revenue amounted for Rs.14,894 crore and SGST revenue valued Rs.22,722 crore, IGST revenue is Rs.47,469 crore (of which IGST from imports is Rs.20,964 crore) and Cess is Rs.7,198 crore (of which Rs.599 crore is Compensation Cess from imports).

The Datat further informed that 13.80 lakh taxpayers are yet to migrate to the One Nation One Tax Policy of the government.  Of the total 72.33 lakh taxpayers, 58.53 lakh taxpayers have completely migrated to the GSTN.

Also over 18.83 lakh new taxpayers have registered with the GSTN, the data added.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: