GSTN making tax ecosystem transparent
Organisations Name : Goods and Services Tax Network (GSTN)
Head of the Organisation: TARUN BAJAJ
Designation: Chairman
Services Offered: GST, Eway Bill, E-invoice, Tinxsys, Invoice Incentivisation
GSTN provides IT infrastructure and services to the Central and State Governments, taxpayers and other stakeholders for implementation of the Goods and Services Tax (GST) in India. To establish a uniform interface for the taxpayer a common and shared IT infrastructure between the Centre and States, the GST System Project has been set up. Earlier, the indirect tax administrations of Centre and State have worked under different laws, regulations, procedures and formats and the IT systems work as independent sites.
From April 1, 2021, GST e-invoice has become mandatory for businesses with a turnover of more than Rs 50 crores (in any fiscal year from FY 2017-18 onwards). e-Invoicing is also known as "electronic invoicing", it is a method in which GSTN authenticates B2B invoices digitally before allowing them to be used on the standard GST portal. This has been introduced to add transparency to companies’ sales reporting processes and reduce errors. A digital system is also expected to make it much more difficult for companies to file fake invoices.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
