92pc of large taxpayers filed annual returns for 2017-18

17 February, 2020 12:00 AM printer

NEW DELHI: The GST Network on Sunday said around 92 per cent of large taxpayers with turnover of over Rs 2 crore have filed annual returns for 2017-18 fiscal.

With Goods and services tax launches on July 1, 2017, this is the first time when businesses registered under GST have to file annual return GSTR-9 and reconciliation statement GSTR-9C, report agencies.

“Statistics show that out of eligible large taxpayers, 91.3 per cent had filed their annual return by February 12, 2020. Similarly, 92.3 per cent eligible large taxpayers had filed their reconciliation statement before the said date,” the GSTN said in a statement.

While annual return filing is optional for taxpayers having annual turnover up to Rs 2 crore, the same is mandatory for those having annual turnover above Rs 2 crore. Such taxpayers are also required to file reconciliation certificate known as GSTR-9C, which can be filed only after filing of GSTR-9.

The data shows that the number of taxpayers with a turnover of more than Rs 2 crore is 12.42 lakh, which is only 13.4 per cent of the total 92.58 lakh regular taxpayers.