Gstn

Initial field work for annual survey of services sector begins for 2022-23

However, the survey itself may not come up before the end of 2024

GSTN in AA network: Operational costs of banks expected to come down

GSTN is expected to go live on AA network in late January or early February, people aware of the development say

Firms' PAN to be identifier for govt single window clearance system

PAN database has relevant information about companies, says commerce minister Piyush Goyal

GSTN now part of AA network to facilitate cash flow lending to MSMEs: RBI

The AA network had been in discussion with the GSTN network for their onboarding for a long time as this would give financial institutions access to data regarding small businesses

Income tax e-filing, GSTN portals working 'pretty well': Infosys CEO

The income tax e-filing and GST Network portals are working "pretty well" and the systems are running effectively, Infosys CEO Salil Parekh said

Eye on FTAs, Centre turns to GSTN for services trade data mining

Currently, the value of exports and imports of services is released by the Reserve Bank of India (RBI) and it comes with a lag of over two months

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

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

Govt says GSTN portal working fine as tax consultants list glitches

Industry associations seek extension of deadline to file annual returns.

GSTN blocks Rs 14,000-cr input tax credits of 66,000 taxpayers

GST Network on Tuesday said it has blocked Rs 14,000 crore worth of input tax credit (ITC) of 66,000 businesses registered under GST. Responding to social media posts based on an RTI reply about the Rs 6.14 lakh crore of ITC blocked under Rule 86A of GST laws, GSTN tweeted that the figure includes erroneous data entries made by the taxpayers. "ITC of approximately Rs 14,000 crore involving 66,000 taxpayers stands blocked as on date. This is only 0.38 per cent (approximately) of average ITC utilised by all taxpayers in a financial year," tweeted GSTN, the company that handles the technology backbone for goods and services tax. The government had introduced Rule 86A in GST rules in December 2019 giving powers to taxmen to block the ITC available in the electronic credit ledger of a taxpayer if the officer has "reasons to believe" that the ITC was availed fraudulently. There are currently 1.32 crore taxpayers registered under GST.

Account Aggregator system can democratise credit, bolster lending ecosystem

An AA enables a free and instant exchange of financial data between FIUs and FIPs with the consent of customers

Limited e-invoicing window a worry for small and medium companies

The e-invoicing system was first made mandatory for entities with a turnover of Rs 500 crore and above and later extended to businesses with Rs 100 crore or more on January 1

SC asks Centre to file affidavit on technical glitches in GSTN

One of the major contentions put forward by the taxpayers was that the relevant GST forms could not be filed due to technological glitches faced on the GST Network portal

Govt must focus on alignment of provisions with GSTN processes

There is a conscious attempt from the top echelons of the government to promote digitalisation and substantially reduce physical interface between the administrators and the trade

GSTN launches 'communication between taxpayer' facility on portal

The GST Network on Monday said it has launched the "communication between taxpayer" feature on its portal

25,000 defaulting taxpayers to be persuaded to file GST returns by Nov 30

GSTN and tax officials have decided to persuade 25,000 taxpayers, who have defaulted to file their GSTR-3B returns by the November 20 due date for the month of October, to file the same

GSTN infrastructure upgraded to handle up to 300,000 users concurrently

The number of active taxpayer numbers have effectively doubled since the launch of GST at about 1.3 crore.

Composition taxpayers can now file 'nil' GST statement through SMS

While they needn't log on to the GST portal for filing nil returns, the facility on GST portal will remain available to taxpayers

Composition taxpayers with 'NIL' liability can file returns via SMS: GSTN

Out of the total of 1.71 million taxpayers registered under the Composition Scheme

Carrying physical copies of e-invoices not required, clarifies GSTN

CBIC has said companies will not attract any penalty if they move goods without e-invoicing