GSTN is currently conducting outreach programmes to make the industry familiar with the new return system.
Commenting on the GST implementation, the report said one significant area where the full potential of GST has not been achieved is the roll-out of the simplified tax compliance regime
This software would help businesses create invoices and account statements, manage inventory and prepare GST returns
Kumar, an IAS officer from the Bihar Cadre of 1975 batch, had served as the GSTN chairman from March, 2014 to August, 2017
Even the transporter or consignee is not allowed to generate another e-way bill on the same invoice number of that consignor, if one has already been generated by the latter
Fifty per cent stake will be owned by the Centre and the remaining by the states on pro-rata basis in the new structure
Converting GSTN to a government company may be considered by the Cabinet tomorrow
The focus of the GoM meeting would be on preparedness to shift to a new format for GST return filing
GSTN currently only provides support to tax officers on data analysis
The Centre will own 50% of the GSTN, while the remaining 50% will be collectively held by states
'Hiring and firing' was faster since it was a private company says GSTN CEO Prakash Kumar
If the rates change, they have no impact on the system as they have been kept out, says Prakash Kumar
GSTN handles massive amounts of data; by now, over 10 million businesses have already registered on the GSTN portal
The move came after there were reports of leakages of data, including those allegedly by Facebook and Cambridge Analytica
Taxpayers with annual aggregate turnover up to Rs 1.5 crore in the previous financial year or anticipated in the current financial year can avail the option of filing quarterly returns
Now a year old, the Goods and Services Tax Network (GSTN) portal has drawn both praise and criticism. Made operational on November 8 last year, it had covered all the states by March 2017 in terms of registration and given out provisional identifications to taxpayers, much before the GST rollout in July, say officials. However, tax filers had to face a number of issues with the portal. The system crashed a couple of times in September, which led to the setting up of a group of ministers (GoM) to examine why and what to do, led by Bihar finance minister Sushil Modi. "The journey has been both exciting and challenging," says Prakash Kumar, chief executive of GSTN, the information technology network for the new levy. Many blame continuous change in the GST laws for gaps on the portal, not GSTN itself. The GoM had identified 27 technical glitches on the portal, which it wanted Infosys, which had won a contract to maintain GSTN for five years, to fix by end-October. However, only 18 of .
So far, nearly 12 lakh businesses have filed GSTR-2 returns
To allow glitch-free tax payment facility, GSTN has tweaked features
The meeting will monitor and resolve the IT challenges faced in the GST implementation
The panel will comprise three to five state finance ministers, who will look into concerns of trader