Goods and Services Tax Network (GSTN)

Introduction

• The Goods and Services Tax Network (GSTN) is a private limited corporation that is non-profit and non-government. It was incorporated in 2013. 
• The government (Central and State) holds 49% equity in GSTN while private players hold the remaining 51% equity in the GSTN. 
• It was created primarily to provide IT infrastructure and services to the federal and state governments, as well as taxpayers and other stakeholders, in order to ensure that the Goods and Services Tax is implemented smoothly.

Services provided by GSTN

• It facilitates registration including existing taxpayer migration.
• Payment management including payment Gateways and integration with banking systems.
• Return filing and processing.
• Input Tax Credit (ITC) matching, reversal of ITC.
• Settlement of Integrated Goods and Services tax. 
• Taxpayer management, including account management, notifications, information, and status tracking. 
• Maintenance of interfaces between the Common GST Portal and tax administration systems. 

Advantages of GSTN

• It provides a single common portal for all GST related services  such as Tax payer registration (new, surrender, cancelation, amendment etc.), Invoice   upload, auto-drafting   of   Purchase details of buyer, GST Returns filing on stipulated dates for each type of return, Tax payment by creation of Challan and integration with agency Banks, etc.
• It also provides linkage to all State/UT Commercial Tax departments, Central Tax authorities, Taxpayers, Banks and other stakeholders.