UP Lead in Filing GST Return

• 27 Jun 2024

Why in News?

According to the Goods and Services Tax Network (GSTN), Uttar Pradesh, Tamil Nadu, and Maharashtra are leading in filing Goods and Services Tax (GST) returns monthly, indicating their economic potential.

• GST is a value-added tax levied on most goods and services sold for domestic consumption.

Key Points

• In April 2024, UP, the most populous state in the country, reported over 908,900 GST returns summarizing their monthly transactions (in the form of GSTR-3B).
  • While industrialised Tamil Nadu reported over 880,200 GST returns.
  • Maharashtra was in third position with over 798,600 GST returns.
• Monthly return filings reflect business activity, compliance levels, revenue potential, tax administration efficiency, and demand for goods and services in the state.

Goods and Services Tax Network (GSTN)

• GSTN has developed an Indirect Taxation platform for GST in India.
• The platform helps taxpayers in preparing, filing returns, making payments, and complying with indirect tax regulations.
• It provides IT infrastructure and services to the Central and State Governments, taxpayers, and other stakeholders.
• GSTN is a not for profit, limited by shares, Government Company. It was incorporated in 2013 under Section 25 of the Companies Act, 1956 (Now Section 8 of the Companies Act, 2013).
  • The company is headed by a chairman who is appointed by the Government.
• The Board of GSTN in its 49^th Board Meeting held in June 2022 has approved the conversion of GSTN into Government Company and hence 100% of the shareholding being held by Government (50% with Union Government and 50% jointly with State Governments & UTs) in GSTN.