Currently, there are over 1.39 crore taxpayers registered below GST.
Around 45 per cent of the returns filed on April 20 had been both NIL returns or had been such returns the place no tax was paid in money.
GST Network has suggested taxpayers to plan return submitting and bill importing higher and keep away from the last-minute rush, which leads to the clogging of GST programs.
It stated that 20.05 lakh GSTR-3B returns had been filed on April 20 — the final day for submitting tax returns for gross sales in March, leading to a ready queue on the GST system and inflicting inconvenience to a few of the taxpayers.
Around 45 per cent of the returns filed on April 20 had been both NIL returns (no tax legal responsibility and no ITC availment) or had been such returns the place no tax was paid in money.
It additionally highlighted that some taxpayers are importing a lot of invoices (as much as 27 lakhs) of the previous interval in a single GSTR-1 on the due date of submitting.
“Taxpayers are suggested to inculcate a month-wise return submitting self-discipline for all of the B2B invoices for the month and keep away from reporting invoices of the previous interval in a single go, as such behaviour can adversely affect the queue (ready time) on the GST system,” GSTN stated in an advisory to taxpayers.
Goods and Services Tax Network (GSTN) manages the technology backend of the indirect tax regime, which was launched on July 1, 2017. Currently, there are over 1.39 crore taxpayers registered under GST.
GSTN said it has upgraded its infrastructure over a period of time. However, it has observed that some taxpayers faced difficulty in filing GSTR-3B for March on April 20, 2023.
“On analysing the reasons, it was noted that a large number of taxpayers attempted to file GSTR-3B returns in the afternoon of the last day,” it stated.
GSTN additional stated that taxpayers with ‘Nil’ returns can file them earlier and never await the final day to file GSTR-3B.
It additionally steered that taxpayers could use the SMS submitting choice to file NIL returns as it might be faster and a extra handy approach to file NIL returns and also will assist to cut back the queue on the GST system.
“It can thus be seen that with higher planning of return submitting, the problem confronted by the taxpayers resulting from final minute rush will be averted and it might be of assist to fellow taxpayers as effectively… Taxpayers are due to this fact suggested to file their Form GSTR- 3B effectively prematurely to keep away from final day rush,” it stated.
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(This story has not been edited by News18 employees and is printed from a syndicated information company feed)
