New Delhi: GST Network, the company providing technology backbone for the new indirect tax regime, today said it has completed all software trials and testings necessary to successfully rollout GST from July 1.
Over 66 lakh taxpayers have enrolled on the GSTN portal, Chairman Navin Kumar said. "GST IT system has undergone all mandatory tests and has been opened for new registrations and enrolments on June 25. We would like to assure everyone that the system is functioning smoothly," he said.
The GSTN portal has also started accepting registrations from new taxpayers from June 25 even as the process of migration of existing taxpayers is already on. Registration has also started for GST practitioners, deduction of tax at source and e-commerce operators (TCS).
The government has however deferred the implementation of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) provisions in the CGST act. Hence, e-commerce companies will not have to collect tax at source from their suppliers for now.
Kumar said: "We are fully ready and all the tests including User Acceptance Testing and Beta testing have been completed successfully. We are fairly confident of the system and are expecting a hiccup free transition". The GST common portal will enable taxpayers to meet the GST compliance requirement like filing returns and making tax payments....