As per the reports, the finance ministry chaired by Revenue Secretary Sanjay Malhotra called a meeting to review the functioning of the Goods and Services Tax (GST) Portal and the systems on April 4, 2023 (Friday).
The meeting focused more on the GST portal (www.gst.in) issues and the systems. Recently, there were many issues reported by the taxpayers and also many updations were done. Last year the taxpayers reported the back end issues resulted in the slow functioning of the portal.
The Goods and Services Tax (GST) is a value-added tax levied on the sale of goods and services in India. The GST system is a unified tax system that replaced multiple indirect taxes such as Central Excise Duty, Service Tax, Value Added Tax (VAT), etc.
The Indian government created the GST portal as an online platform for taxpayers to manage their Goods and Services Tax (GST)-related activities. A variety of services connected to GST registration, tax return filing, tax payment, and other compliance-related tasks are offered through the portal.
A record amount of GST was reportedly collected in the month of March 2023. It is the second largest monthly collection. ₹1,60,122 were collected as a whole. Out of, Central GST totaled ₹29,546, State GST came in at ₹37,314 and Integrated GST came in at ₹82,907.
Prior to the GST collection for the new financial year, this meeting will check that all processes and the GSTN portal are functioning properly. In light of the GST’s record-breaking collection, it is the responsibility of the financial ministry to address the problems carefully.
The Indian tax system has undergone considerable modifications due to the GST system, which has also aided in streamlining the taxes procedure. The introduction of the GST has decreased the tax burden on businesses, eliminated several taxes, and increased compliance.
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