GST: November 8 is the date finalised for migration of eight million assesses under Goods and Services Tax Network

The Goods and Services Tax Network (GSTN), which is expected to provide common and shared IT infrastructure for GST implementation, will transfer on-board to its platform the details of about 80 lakh existing assessees of excise, value-added tax, customs and service tax, according to Mr.. Prakash Kumar, Chief Executive Officer, GST Network said. He was speaking at the second series of Interactve Session on GST at the PHD Chamber of Commerce & Industry, here.

“On this date (November 8), we are releasing enrolments. This means getting these existing eight million assessees on to our system. This move will help them do business without any hassle from April 1 next year, which is the likely GST implementation date,” said Mr. Prakash Kumar told the Members of PHDCCI.

Mr. Prakash Kumar noted that with the migration of assessee details onto the GSTN platform, the existing assessees will have clean data. This will sort out inconsistencies and get ready for smooth transition to the implementation date of April 1, he said.

GSTN, a not-for-profit entity incorporated in March 2013, has been set up primarily to provide IT infrastructure and services to the Central and State governments, taxpayers and other stakeholders for implementation of GST. It has also been allowed to partner with other agencies for creating an efficient and user-friendly GST eco-system.

Mr. Prakash Kumar also said that GSTN will in the coming days obtain imports related data (Bill of Entry) from the Central Board of Excise Customs (CBEC). This will be useful for levy of iGST (GST levy on imports).

Other Officers from GSTN who were present on the occasion included  Mr. Nitin Mishra, EVP, Technology, GSTN; Mr. Praveen Kumar, AVP, GSTN; Mr. K P Verma, VP(Services), GSTN & Mr. Shashi Bhushan Singh, VP(Services), GSTN. 

Mr. Gopal S Jiwarajka, Sr. Vice President, PHD Chamber; Mr. Anil Khaitan Vice President, PHD Chamber; Mr. Bimal Jain, Chairman Indirect Taxes, PHD Chamber & Mr. N K Gupta, Co-Chairman, Indirect Taxes Committee, PHD Chamber also presented their views on the subject.

Mr. Nitin Mishra, EVP, Technology, GSTN, presented how GSTN portal will provide for dashboard registration. He discussed the importance of uploading B2B invoice, Amended B2B invoice and B2B invoice for the supplier and receiver. Sh. Mishra elaborated the details of monthly return, turnover details, outward and inward supplies under GSTR-3.

Mr. Bimal Jain, Chairman, Indirect Tax Committee, PHDCCI, shared that GST will facilitate Make in India by making one India. He felt that certain issues need ironing out under GST including whether seamless flow of credit will be available under GST; how the matching of Input Tax Credit will be taken care under GST; how the registrations will be made under GST for service providers having multiple offices located across States within the country; how returns will be simplified under GST. He also emphasised preparedness required for industry to gear up for GST. He felt that the govt. is making all positive efforts for GST and it is expected that GST will turn out to be Good & Simple Tax for the benefit of trade & industry.

Mr. Gopal S Jiwarajka felt that timely GST preparedness is a key to smooth transition for industry. Mr. Anil Khaitan shared that IT processes for every company would have to be customised as per the requirements under GSTN.