RBI includes GSTN as a Financial Information Provider under Account Aggregator Framework [Read Notification]

The Reserve Bank of India (RBI) has issued a notification regarding the Inclusion of the Goods and Service Tax Network ( GSTN ) as a Financial Information Provider (FIP) under the Account Aggregator (AA) Framework.

As per a notification issued on Wednesday, the RBI stated that “Please refer to the Master Direction – Non-Banking Financial Company – Account Aggregator (Reserve Bank) Directions, 2016 dated September 02, 2016.”

“With a view to facilitate cash flow-based lending to MSMEs, it has been decided to include the Goods and Services Tax Network (GSTN) as a Financial Information Provider (FIP) under the Account Aggregator (AA) framework. Department of Revenue shall be the regulator of GSTN for this specific purpose and Goods and Services Tax (GST) Returns, viz. Form GSTR-1 and Form GSTR-3B, shall be the Financial Information. Accordingly, the select instructions contained in the Master Direction referred to above have been amended, as detailed in the Annex,” the notification said.

To Read the full text of the Order CLICK HERE

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