New Delhi: A top tax official suggested that over 36 lakh businesses have filed first tax returns. The returns have been filed under the new Goods and services tax regime that commenced from July 1 2017.

The number is expected to rise as compilations have still been completed, since rules for various filings and categories is yet to get over.

The revenue department estimated that a collection of Rs 65000 crore was achieved from the maiden GST. Under the new regime for indirect taxes, excise duty, service tax and VAT were to be subsumed. Also, state and various central taxes got integrated.

The last day for businesses to file returns by availing transitional credit is today, that is Monday, August 28, although these businesses were expected to complete self-assessment by August 25.

According to a weekly letter by Vanaja Sarna, the Chairperson for Central Board of Excise and Customs (CBEC), the last date for payment of GST for July was set to August 25. There remained a slight confusion among taxpayers who wanted to fill TRAN-I form this month, since the last date for filing GSTR-3B was kept at August 28.

An official that the Press Trust of India interacted with suggested that businesses can continue to file returns and pay taxes even after the deadline ends. This is similar to what happens in case of income tax returns and payments.

The GST however suggests a late payment fee of Rs 100 every day and a maximum of Rs 5000 for failures in furnishing details of outward or inward supplies or returns.

An interest of 18% is also applicable on taxes from the suceeding day on which the amount was due to be paid.

Nearly 72 lakh assesses have migrated to the GST network still, and going by the tax department's admission, it can be concluded that only half of the assessments have filed for tax returns.