In an official message on the occasion of GST Day, Finance Minister Nirmala Sitharaman on Wednesday said that more efforts are required to ease tax compliance further for the taxpayers, especially the micro, small and medium enterprises (MSMEs). Wednesday marked the third anniversary of the launch of the Goods and Services Tax (GST) regime.
In her message, Ms Sitharaman highlighted the steps taken towards easing the return filing process, including the recently introduced feature of SMS-based filing for nil return.
Meanwhile, government data on Wednesday showed that GST revenues in June witnessed a significant year-on-year dip for the third straight month. On a cumulative basis, GST collections for the first quarter of the year is 41 per cent less than the revenue collected during the same quarter last year.