GST Network (GSTN) Chief Executive Officer Prakash Kumar said on Friday that new forms and e-bills for filing Goods and Services Tax (GST) returns will help ease business. Apart from this, it will also be easy to collect data for indirect tax. GSTN provides technology solutions for goods and services tax. Kumar was speaking at a program organized on the subject of Ph.D Chamber of Commerce and Industry’s new format for filing E-bills and GST returns.
GST data collection will also be easy
He said that the e-bill is a step towards ease of doing business and ease of collecting data for GST. By collecting data on human level, there is a fear of filing wrong information and making mistakes.
He said that to make the system completely self-operating, it needs standardization. Kumar said that the Organization of Economic Cooperation and Development (OECD) has been at the forefront of high income economies in group countries in digitizing bills. He said that the goal is to make digitization a part of the business process of taxpayers in India and remove the system of collecting data at human level.
PhD Chamber Chairman N. K. Gupta said that e-bill is a new system. In this, transactions between businesses (B2B) will be directly certified through GSTN. He said that this will be a major step towards becoming a digital economy.