Gst Network

GSTN empanels EY, IRIS, 2 other firms to provide e-invoice registration

GST Network has empanelled four private companies, including EY and IRIS Business, for providing e-invoice registration services to businesses. Businesses with turnover of Rs 10 crore and above are required to generate electronic or e-invoice for all B2B transactions. So far, taxpayers under Goods and Services Tax (GST) regime could use only government portal NIC to register their e-invoices. "Four private companies viz. ClearTax, Cygnet, E&Y and IRIS Business Ltd were empanelled by GSTN for providing these e-invoice registration services to all GST taxpayers of the country," GSTN said in an advisory to taxpayers. GSTN, which provides technology backbone for GST, also said empanelment of private firms would add significant capacity and redundancy to the single e-invoice registration portal which existed earlier. The end-to-end flow of a digitally signed e-invoice between sellers and buyers by integration with the GST system will lead to ease of compliance for the taxpayers. It ...

Govt plans to make GST e-invoicing must for companies with Rs 5-cr turnover

At present, any firm with Rs 20-crore turnover is mandated to file this

GST: More than just a tax reform

Going forward, we also need to look at inclusion of items in the GST from a larger macro perspective

Top Headlines: TDS levy on cryptos, GST rate of 200 items, and more

From TDS levy on cryptocurrencies to GST rate of over 200 items staying the same, here are the top headlines on Thursday morning

Account aggregator system for credit access all set to onboard GSTN, PSBs

It is also in talks with insurance behemoth Life Insurance Corporation (LIC) to start the onboarding process

Businesses to get fully auto-populated monthly sales return form GSTR-3B

Businesses will now get complete auto-populated monthly sales return form GSTR-3B, GST Network said

IGST crackdown: Exporters cry foul; govt refutes allegations of harassment

Say they are being harassed by the authorities even as 1,500 who claimed bogus GST refunds are untraceable

GSTN plans to send statement of liability shown in sales return via email

While GSTR-1 is filed by sellers and contains invoice-wise and category-wise details of all outward supplies. This has to be filed by 11th of the succeeding month

GST Network makes annual returns available online for composition dealers

This will enable 1.7 million composition dealers to file their returns on an annual basis with effect from 2019-20

FinMin flags 17 'areas of dissatisfaction' with Infosys-designed GSTN

Infosys, which in 2015 won the contract for managing backend for GST Network (GSTN), has drawn flak from the ministry over the tech glitches, some of them have been unresolved for almost two years.

GST portal glitches to dominate agenda of Council meeting on Saturday

States may ask Infosys to have a point of contact; IT firm chairman Nilekani to a presentation on Saturday

New GST filing format, e-invoicing to help in reporting for taxes: GSTN CEO

There is a need for standard to ensure complete interoperability, he said

Soon, govt may introduce lottery system to incentivise GST filing

On the lines of the Delhi government's scheme for consumers under the VAT regime, the Centre's lottery system will aim to increase compliance

ICICI Bank exits GST Network, sells entire 10% stake to 13 state govts

The stake transfer to various stake governments will be completed by the end of March 2020

GST Network starts online refund processing, will help taxpayers in claims

GST Network lets taxpayers to file refund application (in RFD 01 form) easily and tax officers to process online.

Aadhaar verification to be must for new dealers from Jan 2020: GSTN

Those who don't want Aadhaar authentication, physical verification will be carried out, which will be completed in three days, Sushil Kumar Modi said

Technical glitches continue to haunt the Goods and Services Tax Network

Since the implementation of GST in July last year, GSTN had been facing technical glitches

GSTN portal to be shut on July 1 for disaster recovery drill

In a mail to taxpayers, the authorities have said it is planning a disaster recovery drill and so services will not be available for 12 hours, between 9am and 9pm, on July 1

Government mulls to convert GST Network into 100% state-owned company

GSTN was incorporated as a private limited company on March 28, 2013 under the UPA government

GST Network introduces functionality to simplify returns filing process

The new facility will result in time savings for the taxpayers, said GSTN, which provides the IT backbone for the new indirect tax regime