What Is Gstn? - An Overview

GSTN or Goods and Services Tax Network is the IT backbone of the GST regime. GSTN acts as a non-profit organisation incorporated as a Section 8 Company. GSTN aims at developing and maintaining a platform that provides access for all concerned parties, i.e., stakeholders, government, and taxpayers, to collaborate on a single portal for all GST related issues.

Who owns the GSTN?

The GSTN is owned by the Government and Private Players. The authorised capital of GSTN is Rs. 10 crore, in which the Central Government holds 24.5 percent of shares, while the State Government combined holds 24.5 percent stake. Rest of the shares of the GSTN are with private banking firms in the following pattern:

Central Government - 24.5%
State Governments - 24.5%
HDFC - 10%
HDFC Bank - 10%
ICICI Bank - 10%
NSE Strategic Investment Co. - 10%
LIC Housing Finance Ltd. - 11%

Major Function of GSTN

The following are major functions of the GSTN:

GST Registration

GST registration for taxpayers can be obtained through the GSTN. GST is common under Central and State GST. Hence, there is only one place for filing GST registration application, which is the GST Portal. After submitting the application for GST registration on the GST Portal, the GSTN processes the validation of data such as PAN, DIN and Aadhaar. After completion of validation, the registration application the Portal shares the information to the respective Central and State Tax authorities. For clarifications, the processing officer shall communicate to the taxpayer through the GST Portal. Hence, the GSTN acts as a single point of contact and integrated platform for all GST registration related matters.

GST Return Filing

After GST registration, GSTN plays a major role in the processing of

GST returns. Under GST, all taxpayers having GST registration must file GST returns as per due date applicable. Further taxpayers must upload and match all B2B invoices issued. Based on the B2B invoices uploaded for GST input tax credit, the taxpayer shall receive the counter-party automatically. Hence, GSTN manages a common portal for matching of invoice-level data filed as part of return by all taxpayers. A similar facility is provided for all interstate supplies where goods or services will move from the state of origin to the state of consumption and so will the taxes. The claim of IGST and its utilization will be settled based on returns filed at the Common GST portal.

GST Payment Processing

The taxpayers shall make the GST payments only through the GSTN. To make a payment, the taxpayer must first

create a GST payment challan. After creating the payment challan, the taxpayer can make the payment through online banking facility or through over the cash payment at an authorized bank. After completion of payment, the screen directs back to the GST portal from where the taxpayer can download the paid challan as generated by the GST Portal after receiving confirmation from the bank. The taxpayer may also choose to print the challan and present it to the bank. In case the taxpayer chooses online payment, he/she will be taken to the bank website for completing payment. After completion of payment, the taxpayer will be redirected back to the GST portal from wherein the amount of payment will be credited to the electronic cash ledger of the taxpayer.

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Frequently Asked Questions

Common questions about Goods and Services Tax Network: GSTN Overview India.

The GSTN (Goods and Services Tax Network) serves as the IT backbone of the GST regime. It is a non-profit organization that provides a common platform for all stakeholders, including the government, taxpayers, and other parties involved in GST-related matters. GSTN facilitates various processes such as GST registration, return filing, invoice matching, and payment processing.

The GSTN is owned by the Government of India and private players. The Central Government holds 24.5% of the shares, while the State Governments collectively hold another 24.5%. The remaining shares are held by private banks and financial institutions, including HDFC, HDFC Bank, ICICI Bank, NSE Strategic Investment Co., and LIC Housing Finance Ltd.

GSTN acts as a single point of contact for GST registration. Taxpayers can apply for GST registration through the GST Portal, and GSTN processes the validation of data such as PAN, DIN, and Aadhaar. After validation, the registration application is shared with the respective Central and State Tax authorities for further processing.

GSTN manages a common portal for filing GST returns and matching invoice-level data uploaded by taxpayers. It facilitates the matching of B2B invoices and the settlement of IGST (Integrated Goods and Services Tax) for interstate supplies. Taxpayers can file their GST returns and upload invoices through the GSTN portal.

GSTN provides a platform for taxpayers to create GST payment challans and make payments through online banking or over-the-counter at authorized banks. After successful payment, GSTN credits the amount to the taxpayer's electronic cash ledger and generates a paid challan for download or printing.

No, the article does not mention GSTN being responsible for generating GST invoices. GSTN's role is primarily focused on providing a common platform for GST registration, return filing, invoice matching, and payment processing.

No, the article states that there is only one place for filing GST registration applications, which is the GST Portal managed by GSTN. GSTN acts as a single point of contact for GST registration, and the application is then shared with the respective Central and State Tax authorities.

The article does not provide specific details about GSTN's data security and privacy measures. However, as a critical IT infrastructure handling sensitive taxpayer data, GSTN is expected to follow industry-standard security practices and comply with applicable data protection regulations.

No, according to the article, taxpayers must file their GST returns through the common portal managed by GSTN. GSTN facilitates the matching of invoice-level data filed as part of the returns by all taxpayers.

The article does not mention whether GSTN has physical offices or service centers. As an IT infrastructure provider, GSTN's primary role is to develop and maintain the online platform for GST-related processes.