Goods and Service Tax is a consolidation of several indirect taxes, such as Service Tax, VAT, CST, etc., and it is charged on a consumption basis and collected on the value of every product in the supply chain. This consolidation of taxes based on consumption in the last regime of indirect taxes has brought validation in the indirect tax structure. The GST system aims to bring efficiency, transparency, and speed in administration and implementation of tax and make indirect tax structure easier.
The Goods and Service Tax Network (GSTN) has been established to make the taxation process easier. GSTN is a GST Council’s initiative on income tax to bring a uniform interface for an ordinary taxpayer and a shared infrastructure between the states and the central government.
The GSTN has developed the GST Common Portal, which serves as the complete income tax ecosystem’s frontier. The taxpayer can prepare GST documents to pay taxes through banks, register, and file GST returns. On the other side, the IT infrastructure of State Tax and CBIC departments works in the backend. These systems are assigned to manage functions related to tax administration, including registration assessment, approval, adjudication, and audit.
Despite all such initiatives and steps, there are so many issues and loopholes in implementation. The GST Council has started the GST helpdesk and other mediums to resolve these issues.