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GST Saw a Huge Increase in Monthly Returns in October!

Business Finance Government

GST is one of the best tax regimes in the world. And in India after implementing, it is doing very well. Growth in the collection of GST by the government is growing year by year.

This year too, in comparison to last year, it grew 36%. In GST monthly returns are also filled, and in October it grew almost 36%. This monthly return is known as GSTR-3B. This month, as compared to last month, it grew by almost 10%. And for the first time, it breached the Rs 1 lakh crore mark in the current fiscal year. The government announced this data recently.

The GST Network (GSTN) saw a significantly greater flood consequently recording in September as the all-inclusive cutoff times for earlier months found some conclusion. Over 1.68 crore returns were recorded in September, an expansion of in excess of 88 percent over a year ago.

GST Taxpayers in India

In total, and in India more than 1.3 crore taxpayers are there with GST. But out of these 17 lakh are composite taxpayers. These are the taxpayers who file separate quarterly returns and not monthly returns. But all the rest file monthly returns, GSTR-3B.

“It has been made possible as the GST infrastructure has been upgraded to handle up to 3 lakh concurrent logged-in users at a time,” the government said referring to the increased load on the GSTN system. The system is also capable to handle 5 lakh, concurrent users if required, it said.

GSTN’s capacity plays a major role. The government tries its best to increase the capacity of GSTN. And in June only it’s capacity was increased from 1.5 lakh concurrent users. This was done keeping in mind the surge of tax returns owing to the pandemic.

“Taking the surge during the peak filing into consideration, GSTN also took on the performance and stress testing of system applications that helped identify and remove bottlenecks in the software,” the government said. It added that GSTN performed expulsion of repetitive preparing expected of citizen demands, advanced citizen remaining burden the board by making particular handling pipelines relying on the size of citizen’s transfer of receipt information, a tuning framework, and information base boundaries among different advances.