Latest News | GSTN Included in Financial Information Providers List Under Account Aggregator Framework
Get latest articles and stories on Latest News at LatestLY. The Reserve Bank on Wednesday said the Goods and Services Tax Network (GSTN) has been included in the list of financial information providers under the Account Aggregator framework to facilitate cash flow-based lending to MSMEs.
Mumbai, Nov 23 (PTI) The Reserve Bank on Wednesday said the Goods and Services Tax Network (GSTN) has been included in the list of financial information providers under the Account Aggregator framework to facilitate cash flow-based lending to MSMEs.
An Account Aggregator (AA) is a type of RBI-regulated entity (with an NBFC-AA license) that helps an individual securely and digitally access and share information from one financial institution they have an account with to any other regulated financial institution in the AA network.
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"Department of Revenue shall be the regulator of GSTN for this specific purpose and Goods and Services Tax (GST) Returns, viz. Form GSTR-1 and Form GSTR-3B, shall be the financial information," the Reserve Bank said in a circular.
The list of financial information providers includes banks, non-banking financial companies, asset management companies, depository, depository participants, insurance companies, and pension funds.
GSTN, the technology backbone of GST, has 1.40 crore registered taxpayers.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)