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Public Limited Companies Generate 35% GST Revenue But Cover 0.6% in Total Number

35 Percent GST Revenue by Public Limited Companies

According to the data provided by the GST (Goods and Services Tax) Network, Public Limited Companies amounts to only 0.6% of the total assessees registered under the GSTGet to know the complete GST registration procedure online on the Indian government GST portal official website. We have explained by the actual screenshot of every step Act 2017 but provides approx 35% of the total GST revenue collection. Approx 1.2 crore taxpayers are registered under the GST Act.

Similarly, the Public Sector Undertakings (PSUs) amounts to only 0.2% of the total assessees registered under the GST Act 2017 but provides approx 9% of the total GST revenue collection. Other major contributors under the GST regime are the Private Limited Companies, which amounts to 5.9% of the total assessees registered under GST Act 2017, but provides approx 27.5% of the total GST revenue collection.

Proprietors which amounts to 80% of the total assessees registered under the GST Act 2017, are largest under the act but provides approx 13.7% of the total GST revenue collection. The total number of assessees earning more than Rs. 5 Crore per annum, cover about 7% of the total number of taxpayers under the act but provide more 81% of the total GST collections. Such large taxpayers upload approx 6,500 invoices per taxpayer, as compared to average 30 from all the assessments. The assessees are required to upload the invoices under Form GSTR-1 The complete guide for online filing GSTR 1 form in a very easy and step by step manner. We have explained its part 1 to part 13 with the original form screenshots while filing their returns as a detail for the sales made by them.

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

Published by Devesh Sharma (Ex-employee)
Devesh, an internet enthusiast, likes to surf different websites to gather reliable and accurate data and is very passionate about writing, Currently placed as a Content Writer at SAG Infotech is into writing about different tax-related contents and is willing to go beyond the perimeters to write more precisely, his articles offer great details to the facts and the products. View more posts
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