With just 5 days to go for the roll out of GST, the GST common portal opened inviting fresh registrations of first time taxpayers including those to be registered as TDS/TCS and enrollment of GST Practitioners. It is also open for existing taxpayers to complete their enrollment process.
The Goods & Services Tax has been referred to as the most significant tax reform in India post independence. The new regime will usher in a common national market by doing away with a complex web of local and central taxes and incorporating them into a single levy.
The GST portal has already opened two windows for enrolments – first between November 8 to April 30 and then from June 1 to June 15. This is the third window to allow all taxpayers enough time to migrate to the new regime.
As the technology provider of the regime, GSTN has been working tirelessly to ensure there are no delays in the commencing of the ambitious indirect tax regime. The GSTN has set up a robust portal already equipped to handle as many as 2.6 billion transactions every month.
The GST Common Portal will enable taxpayers to meet the GST compliance requirement like filing returns and making tax payments.
About Goods and Services Tax Network [GSTN]
Goods and Services Tax Network [GSTN] is a Section 8 [under new companies Act, not for profit companies are governed under section 8], non-government, private limited company. Instituted in March 2013, the Company has been set up primarily to provide IT infrastructure and services to the Central and State Governments, tax payers and other stakeholders for implementation of the Goods and Services Tax (GST). The Government of India holds 24.5% equity in GSTN and all States of the Indian Union, including NCT of Delhi and Puducherry, and the Empowered Committee of State Finance Ministers (EC), together hold another 24.5%. Balance 51% equity is with non-government financial institutions. For more information, please visit GSTN