Goods And Services Tax Network Meaning

The goods and service tax network or gstn is a non profit non government organization. It is registered as a non profit company under the new companies act in march 2013. It helps connect the taxpayer as well as the taxing authority in a transparent manner.

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Goods and services tax network gstn objectives since its inception gstn has established with a vision to become a trusted national information utility niu which provides reliable efficient and robust it backbone for the smooth functioning of the goods commodities and services tax regimen enabling economic agents to leverage the entire nation as one market with minimal indirect tax.

Goods and services tax network meaning. The gst is paid by consumers but it is remitted to the government by the. It will manage the entire it system of the gst portal which is the mother database for everything gst this portal will be used by the government to track every financial transaction and will provide taxpayers with all services from registration to filing taxes and maintaining all tax details. Gstn goods and services tax network.

The goods and services tax network gstn is a not for profit non government company promoted jointly by the central and state governments which will provide shared it infrastructure and services to both central and state governments including tax payers and other stakeholders. Goods and services tax or gst is a broad based consumption tax levied on the import of goods collected by singapore customs as well as nearly all supplies of goods and services in singapore. In other countries gst is known as the value added tax or vat.

Gst exemptions apply to the provision of most financial services the supply of digital payment tokens the sale and lease of residential. 146 c north block new delhi 110001. Overall the goods and services tax network was developed to ensure a safe and secure system for financial transactions with respect to the gst.

Goods and services tax network east wing 4th floor world mark 1 aerocity new delhi 110037 3 shri anil kumar jha additional secretary department of revenue ministry of finance room no. The goods and services tax network gstn is a non government non profit private limited company created for providing the front end and back end it and infrastructural support for the working of gst. The goods and services tax gst is a value added tax levied on most goods and services sold for domestic consumption.