Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Group of Ministers on GSTN Flags Issues in GSTR-2 Filing

At a meeting of the Group of Ministers on the functioning of GSTN, it was felt that the focus of the portal should now be on invoice matching done through filing of GSTR-2, for which the last date is October 31.

PTI

Updated:October 28, 2017, 8:11 PM IST
facebookTwitterskypewhatsapp
Group of Ministers on GSTN Flags Issues in GSTR-2 Filing
Nearly 12 lakh businesses have filed GSTR-2 returns. The Goods and Services Tax (GST) was rolled out on July 1
Loading...

Bengaluru: The ministerial panel chaired by Bihar Deputy Chief Minister Sushil Modi on Saturday flagged issues faced by taxpayers in filing GSTR-2 and asked Infosys and GST Network (GSTN) to streamline the system.

At a meeting of the Group of Ministers on the functioning of GSTN, it was felt that the focus of the portal should now be on invoice matching done through filing of GSTR-2, for which the last date is October 31.

"We have flagged the issues being faced by businesses in various states. There are problems regarding uploading the returns and matching invoices. This the first time GSTR-2 is being filed and hence there are issues," said Modi.

So far, nearly 12 lakh businesses have filed GSTR-2 returns. The Goods and Services Tax (GST) was rolled out on July 1.

The panel assigned more functions to GSTN which handles the technology backbone for GST as well as IT major Infosys, responsible for the back-end processes.

"GSTR-2 is more challenging because there will be matching of invoices. As many as 45 crore invoices were uploaded in GSTR-1 which have to be matched," Modi added.

While sales return or GSTR-1 was filed till October 10, it has to be matched with purchase return GSTR-2.

The primary focus of GSTN so far has been registering taxpayers in GST, making the files GSTR-3B, GSTR-1 and composition of dealers. Now, GSTN will focus on GSTR-2.

The GoM also raised the issues faced by businesses in different states and asked Infosys to deploy their engineers there.

"We had earlier asked Infosys to deploy engineers in major states by October 30. They have done so in 9 states and sought time till November end to deploy in other states," Modi said.

Infosys has already deployed more than 100 IT people in their team for GSTN functioning.

Modi said that the GoM has given a mandate to Infosys and GSTN to make the IT system more user friendly.

"There should be more pop up messages, more offline utilities, editing facilities for businesses transacting on the portal," he said.

| Edited by: Ananya Chakraborty
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
RBL Bank 500.40 -13.69
Yes Bank 83.25 -2.97
Bajaj Finance 3,323.10 -4.17
ACC 1,543.65 -1.50
Reliance 1,249.00 -1.02
Company Price Change %Gain
Biocon 240.35 -8.63
Yes Bank 83.25 -2.97
RBL Bank 500.35 -13.71
ICICI Bank 410.10 -2.05
HDFC AMC 2,316.85 6.76
Top Gainers
Company Price Change %Gain
NTPC 129.90 2.24
Titan Company 1,091.05 1.02
Coal India 221.90 0.73
TCS 2,076.95 0.53
BPCL 351.00 0.50
Company Price Change %Gain
NTPC 129.85 2.20
Coal India 221.95 0.68
TCS 2,076.95 0.55
ONGC 144.10 0.42
Power Grid Corp 205.90 0.27
Top Losers
Company Price Change %Gain
M&M 571.30 -4.37
Bajaj Finance 3,323.10 -4.17
Eicher Motors 17,664.00 -4.03
Hero Motocorp 2,387.40 -3.71
Tata Motors 154.85 -3.67
Company Price Change %Gain
M&M 571.35 -4.36
Bajaj Finance 3,322.05 -4.16
Tata Motors 154.80 -3.73
Hero Motocorp 2,387.65 -3.71
IndusInd Bank 1,421.45 -3.40

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results