GST Filing Volatility captures unusual changes in GST filings, such as missed returns, sharp monthly swings, delayed filing, or turnover that does not match bank credits and financial statements. In MSME credit assessment, GST data is useful because it gives an external view of business activity and tax compliance. A stable filing pattern usually supports the borrower’s declared sales, while frequent gaps or sudden drops may require deeper checks. For example, if a borrower shows strong projected sales but GST returns are irregular or much lower than bank statement credits, the underwriter should ask for reconciliation. This indicator should not be used mechanically because seasonality and business cycles can create genuine variation. The caution is to compare GST filings with ITR, bank statements, invoices, and industry pattern before drawing conclusions.