Stated by the Central Board of Indirect Tax and Customs (CBIC), the percentage of individuals filing tax has hiked to 50% as the last day of the tax period approached. On 20th November 2019, the accumulated GSTR 3B forms showed a total of 18.27 Lakh files on the desk. If compared to the returns filed on 20th October 2019, the total returns filed by the taxpayers were 12.20 Lakh for the day.
As per the statistics, 64.83 lakh GSTR 3B files were accumulated for the month of October 2019 which was 8.2% higher than the files (GSTR 3B) of the last month (i.e. 59.90 Lakh files accumulated). If we take out the annual statistics, the total number of GSTR 3B form filed Get to know details on GST return 3B form along with the online procedure for filing return of the current financial year. We break down the form for easy understanding. by the taxpayers in November this year hiked by 9.4% as compared to last year’s November data (59.28 lakh files accumulated). And finally, the total of GSTR 3B accumulated exclusively on 20th November (last date of return filing) is 11% higher than the total number of forms collected on the same day last year.
It is clear from the statistics that taxpayers have become more honest towards their monthly, quarterly or annual compliances. This also depicts the smooth functionality of GSTN return filing mechanism Good news has arrived for all the taxpayers registered under the goods and services tax regime as the latest system of GSTN portal will be processing the GST. working proportionally within its expected time limits.
CBIC recommended the taxpayer to get aside on the safer platform by filing the returns before time and avoid last-minute hassles due to a huge rush of returns on the website. Moreover, it is advised to file the returns on days other than Friday, Saturday and Sunday to avoid getting stuck in the rush of other returns. This piece of advice is great for those who want to file their returns easily, accurately and on time.
There have been occurrences when taxpayers found themselves in a tough situation while filing their returns which led them complaining about the GSTN system on social platforms. As far as the GSTN system is concerned, GSTN is a private firm managing the IT system of GST Portal, the department confirmed that the return filing system was working accurately.