Four years of GST implementation: 1.3 crore taxpayers, more than 66 crore returns

New Delhi: Tomorrow, Ta. On July 1, the country will complete four years of implementation of GST (Goods and Services Tax). C. Ta. The implementation of GST started on July 1, 2016. In these four years, the GST Council met three times to take other decisions, including amendments to the law. During this time more than 3 crore returns have been filed. So about 1.5 crore taxpayers have been registered.

GST includes a total of 18 cess including excise duty, service tax, VAT. Thus, 18 taxes have been included under GST. Which is why this law is becoming easier for consumers and taxpayers.

At present the turnover of the business is Rs. 5 million (for goods) is excluded from the scope of GST. Earlier, the limit was Rs 20 lakh. Whose annual turnover is Rs. 1.5 crore, they can avail the benefit of composite scheme and only 1% tax (on goods) is applicable on them. Service based business Rs. If there is a turnover of up to Rs 50 lakh, it is excluded from GST. The service business has to pay 3 per cent tax under the composite scheme on turnover up to Rs 50 lakh.

Last date From January 1, 2021, Rs. The Quarterly Return and Monthly Payment Scheme (QRMP) was implemented for taxpayers with a turnover of up to Rs 5 crore. In which the taxpayer can file the return every three months instead of every month. However, you have to pay every month.

In addition, the annual return has been simplified for the purpose of resolving the problem of small taxpayers. As well as in 2015-16, 2015-16, 2016-20 and 2020-21 with a turnover of Rs. 3 crore has been made an alternative for them.

In addition, a 'zero' GST return scheme has been launched through SMS through a registered mobile number. The scheme will provide relief to the taxpayers who have filed about 3 lakh zero returns. As many as 3 lakh taxpayers have benefited from the GST Composition Scheme, which came into effect last year.