4 years of GST: CBIC to honour 54,439 taxpayers for contributing to GST success story

GST is a tax reform which was introduced on July 1, 2017 and has now completed four successful years of its implementation. Over the years, there has been a reduction in the tax rates, simplification of procedures and a growing economy has also led to an exponential increase in the tax base.

"GST revenues have steadily grown and have been above the 1 lakh crore mark for eight consecutive months in a row. On the eve of completion of 4 years of the GST, it has been decided to honour the taxpayers who have been a part of the GST success story," Ministry of Finance said in a statement.

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A data analytics exercise was hence undertaken by the Central Board of Indirect Taxes and Customs (CBIC) to identify taxpayers who have made substantial contribution in payment of GST in cash along with timely filing of returns.

As a result, 54,439 taxpayers have been identified. More than 88 percent of these taxpayers are from Micro (36%), Small (41%) and Medium enterprises (11%) representing a wide spectrum sector involved in the supply of goods & services spread across all States/UTs, as per the information provided in the statement.

While it is widely acknowledged that the nation meets its obligations towards spending in various social sectors and welfare schemes and infrastructure development out of revenues mobilized through tax payments by millions of honest taxpayers, this step marks the first effort by the Government to directly communicate to the GST taxpayers for their contribution.

As an acknowledgment, CBIC will be issuing certificates of appreciation to these taxpayers. Goods and Services Tax Network (GSTN) will be sending out the certificates of appreciation to individual taxpayers by e-mail. The taxpayers will be able to print and display these certificates.