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Through the common GST portal, the (Goods and Services Tax Network) GSTN issued Advisory No. 601 on August 31, 2023, concerning the introduction of an Electronic Credit Reversal and Re-claimed statement. The government has released the notification about the changes to form GSTR-3B, specifically Table 4, to ensure accurate reporting of Input Tax Credit (ITC) […]
The Goods and Services Tax Network has published a helpful advisory for GST-registered applicants marked for Biometric Aadhaar Authentication on August 28, 2023. According to an amendment to Rule 8 of the CGST Rules, applicants who choose to authenticate their Aadhaar numbers and were identified on the common portal would be scheduled for biometric Aadhaar […]
The Goods and Services Tax Network (GSTN) has begun looking for a consultancy company to prepare the bid document for the selection of a new service provider and a roadmap for upgrading the system capacity to the next level of GST 2.0 as Infosys’ contract to provide technology support for GST expires in September 2024. […]
The Minister of State in the Ministry of Finance India, Shri Pankaj Chaudhary replying to a question raised in Lok Sabha said that, no proposal to bring GSTN under PMLA. The main purpose and objectives of GSTN are to furnish common and shared IT infrastructure and services to the Central and State Governments, Taxpayers, and […]
The Indian government introduced the new GST regime six years ago and a recent statistical report by GSTN provides a comprehensive analysis of its implementation. The following is a list of the contents which is merged with the report: The report shows the total number of returns filed on a monthly basis since July 2017, […]
On the 24th of July 2023, the exemption declaration functionality would have been live on the e-invoice portal, GSTN stated. This feature is intended for taxpayers who have e-invoicing enabled by default but are excluded from applying it under the CGST (Central Goods and Services Tax) Rules. e-Invoice Exemption Declaration Functionality Features are Stated as- […]
The union government’s step to draw the GSTN beneath the purview of the Prevention of Money Laundering Act has the objective to empower the related investigating agencies concerning tax fraud along with money laundering cases and not providing outright access to the information to any party revenue secretary Sanjay Malhotra said. The new finance ministry […]
Last week, the Government included the Goods and Services Tax Network (GSTN), an IT branch that manages the GST Portal, with several agencies including the Financial Unit (FIU), an authority under the Prevention of Money Laundering Act (PMLA), to share information with. According to the list, the FIU, a national agency for receiving, processing, and […]
As per the notification issued on July 7, the government has included the Goods and Services Tax Network (GSTN) within the Prevention of Money Laundering Act (PMLA). The Finance Ministry’s recent notice has changed a previous notification from 2006, making it simpler for the GSTN, the Enforcement Directorate, and other investigative agencies to exchange information. […]
