A significant increase of 56% has been seen in the total number of GST return filings over a period of five years until April 2023, reaching a total of 11.28 million. The Ministry of Finance attributes this surge in GST return filings to taxpayers’ adherence to compliance.
The finance ministry recently stated through a social media platform “X” that the improvement in GST return filing compliance is a result of effective policy implementation and systematic changes in the GST system.
During the past five years, the total number of GST taxpayers has also shown a notable rise, increasing by 33% to reach 13.96 million by April 2023.
According to data shared by the Ministry of Finance, 90% of eligible taxpayers filed the GSTR-3B return by the end of April, marking an increase from 68% in FY 18. The GSTR-3B form is used by taxpayers to declare their GST liabilities for the relevant tax period.
The ministry stated that the process of filing GSTR-3B returns has been made more convenient with form enhancements and the introduction of electronic credit and re-claimed statements.
Additionally, the ministry highlighted that 2023 has been a year of “new highs” in various aspects, including the highest e-way bill generation in a single day, highest payment transactions, highest tax collection, and highest return filing.
On September 30, a record-breaking 4.23 million e-way bills were generated, while on April 20, the highest number of payment transactions, totalling 978,000, took place. The same day also witnessed the highest tax collection of Rs 68,228 crore. Furthermore, on July 20, the highest number of return filings occurred, with 3.23 million returns submitted.
These statistics reflect the growing efficiency and success of the GST system, as well as the increasing compliance and participation of taxpayers in fulfilling their GST obligations.
