New Delhi: The government has recently issued an order under the Prevention of Money Laundering Act (PMLA) to enable the Director of Financial Intelligence Unit-India (FIU) to send various reports to Goods and Services Tax Network (GSTN), the company that processes GST returns, minister of state for finance Pankaj Chaudhary informed the Lok Sabha on Monday.
Chaudhary said in a written reply that FIU is enabled to share reports like cash transaction report and suspicious transaction report to GSTN for making them available to GST authorities, where such reports are found relevant for GST evasion.
The clarification came in response to a question on whether GSTN has been brought under the purview of PMLA.
The minister informed that GSTN seeks to provide a common and shared IT infrastructure and services to the Central and state governments, tax payers and other stakeholders for implementation of GST.
PMLA’s aim is to prevent money-laundering and to provide for confiscation of property derived from, or involved in, money-laundering.
There is no proposal under consideration to bring GSTN under the purview of PMLA, the minister clarified.
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Updated: 08 Aug 2023, 01:05 AM IST