One year of GST: Now, CEO says GSTN will go in for third-party audit of software
GSTN operates the IT backbone for collection of Goods and Services Tax (GST) data of over 1.11 crore registered business entities. A third-party audit will ensure that data filed with GSTN is adequately secured and there are no glitches. GST Network Chief Executive Prakash Kumar said third-party audit is a standard practice which is followed by banking and financial institutions.
Currently, over 1.11 crore businesses are registered under the GST regime, of which 63.76 lakh have migrated from the erstwhile service tax and VAT regime, and 47.72 lakh are new registrants. Image source: Reuters