Goods and Services Tax – GST – Dated:- 29-8-2017 – New Delhi, Aug 28 (PTI) Over 36 lakh businesses have so far filed their first tax returns under the Goods and Services Tax (GST) regime, a top tax official said today. Tax collected in the maiden filings under the GST regime, which kicked in from July 1, are still being compiled as the last date for filings under different rules is not yet over, he said. The revenue department had estimated collection of around ₹ 65,000 crore from maiden GST, the official said. The deadline for filing first monthly return and payment of taxes under GST – the new indirect tax regime that unifies over a dozen state and central taxes, including excise duty, service tax and VAT – ended on August 25. Howe
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ose taxpayers who want to fill TRAN-I this month, the last date for filing GSTR-3B is August 28, she had said. GST Network, the company managing the tax filing apparatus, had uploaded form TRAN-1 last week on its portal for businesses to claim credit on taxes paid prior to GST rollout on July 1. Another official said businesses can continue to file returns and pay taxes even after the deadline ends, much like what happens in case of income tax returns and payment. As per the GST law, any registered person who fails to furnish details of outward or inward supplies or returns required by the due date will have to pay a late fee of ₹ 100 for every day during which such failure continues subject to a maximum ₹ 5,000. Besides, every
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