Finance Ministry notifies Amendment including GSTN under PMLA [Read Notification]

The Central Government vide notification no. G.S.R. 491(E) published on 7th July 2023 notified the amendment adding Goods and Services Tax Network (GSTN) under Prevention of Money Laundering Act (PMLA), 2002.

Pursuant to the authority granted under clause (ii) of sub-section (1) of section 66 of the Prevention of Money-laundering Act, 2002, the Central Government, in recognition of the public interest, hereby implements the subsequent amendment to the notification issued by the Government of India in the Ministry of Finance, Department of Revenue.

This amendment was originally published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), bearing the reference number G.S.R. 381(E) on the 27th of June, 2006.

The notification states that “In the said notification, after serial number (25) and the entry relating thereto, the following serial number and entry shall be inserted, namely:-

“(26) Goods and Services Tax Network.”.”

The GST Network (GSTN) is a government-owned non-profit entity that is responsible for developing and maintaining the technological framework necessary for the effective implementation of the Goods and Services Tax (GST) in India. This organization was established with the specific objective of managing the IT needs and requirements of the GST system.

On 7th July 2023, GSTN updated the GST portal providing the geocoding functionality is available for all states and the Union Territories (UTs). The GSTN has provided how taxpayers can access the GSTN functionality.

1. Accessing the Functionality
2. Using the Functionality
3. Viewing the Geocoded Address
4. One-time Activity
5. Availability

Read More: GST Portal Update: Geocoding Functionality now Live for all States and UTs

Recently, the GSTN has issued an Advisory dated June 29, 2023, on online compliance pertaining to liability/difference appearing in GSTR1 – R3B (DRC-01B). It was informed that GSTN has developed functionality to enable the taxpayer to explain the difference in GSTR-1 & 3B return online as directed by the GST Council, which is now live on the GST portal.

As per the advisory, the functionality compares the liability declared in GSTR- 1/IFF with the liability paid in GSTR-3B/3BQ for each return period. If the declared liability exceeds the paid liability by a predefined limit or the percentage difference exceeds the configurable threshold, the taxpayer will receive an intimation in the form of DRC-01B.

Read More: GSTN Issues Advisory on Online Compliance on Liability /Difference Appearing in GSTR1 – R3B(DRC-01B)

To Read the full text of the Order CLICK HERE

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