New version of return filing portal to be launched by GST Network

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The Goods and Services Tax Network (GSTN) is to launch an improved version of the GST return filing portal on 22 October. It aims to make the process easier. The announcement was made by the GST Network CEO, Prakash Kumar. GST benefit: ♦ GST has reduced complexity by lowering the number of forms to be filed by businesses to 12. Previously it was 495 under as many as 17 central and state laws. ♦ Data that is shared by indirect tax administration with the income tax department has helped in detecting mismatches. ♦ Currently, there are 12.3 million registered GST taxpayers. GSTN: The GST Network provides IT infrastructure and services to taxpayers, central/state government, and other stakeholders for implementation of GST. It aims to provide reliable, efficient, and robust IT Backbone for the smooth functioning of the GST regimen. It also enables economic agents to leverage the entire nation as One Market with minimal Indirect Tax compliance cost.

from Current Affairs 2019 for Competitive Exams Current Affairs Today The Goods and Services Tax Network (GSTN) is to launch an improved version of the GST return filing portal on 22 October. It aims to make the process easier. The announcement was made by the GST Network CEO, Prakash Kumar. GST benefit: ♦ GST has reduced complexity by lowering the number of forms to be filed by businesses to 12. Previously it was 495 under as many as 17 central and state laws. ♦ Data that is shared by indirect tax administration with the income tax department has helped in detecting mismatches. ♦ Currently, there are 12.3 million registered GST taxpayers. GSTN: The GST Network provides IT infrastructure and services to taxpayers, central/state government, and other stakeholders for implementation of GST. It aims to provide reliable, efficient, and robust IT Backbone for the smooth functioning of the GST regimen. It also enables economic agents to leverage the entire nation as One Market with minimal Indirect Tax compliance cost. https://ift.tt/2IP0oyD

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