The Goods and Services Tax Network (GSTN), which is the technology interface between government and taxpayers, is due to be integrated with the country’s ambitious financial data sharing network Account Aggregator before July 1, according to top officials overseeing the process. The tax network GSTN has close to 1.4 crore registered taxpayers. The list of financial information providers registered in the AA network includes banks, non-banking financial companies, asset management companies, depository, depository participants, insurance companies, and pension funds. “The Department of Revenue shall be the regulator of GSTN for this specific purpose and Goods and Services Tax (GST) Returns, viz. Form GSTR-1 and Form GSTR-3B, shall be the financial information,” the Reserve Bank had said in its circular last year.

Source: Economic Times May 22, 2023 06:00 UTC