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Core Purpose

Notification under section 158A of the Central Goods and Services Tax Act, 2017 and section 20 of the Integrated Goods and Services Tax Act, 2017 notifying the Reserve Bank of India's 'Public Tech Platform for Frictionless Credit' as a system for consent-based information sharing by the GST common portal.

Detailed Summary

The Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Customs, vide Notification No. 06/2024-Central Tax (S.O. 818(E)) dated 22 February 2024, exercising powers under section 158A of the Central Goods and Services Tax Act, 2017 (12 of 2017) and section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), on the recommendations of the Council, notified "Public Tech Platform for Frictionless Credit" as the system with which information may be shared by the common portal based on consent under sub-section (2) of Section 158A of the CGST Act. The platform is described as an enterprise-grade, open-architecture information technology platform conceptualised by the Reserve Bank of India as part of its "Statement on Developmental and Regulatory Policies" dated 10 August 2023, and developed by its wholly owned subsidiary, Reserve Bank Innovation Hub, using a standard and protocol-driven, open and shared Application Programming Interface (API) framework. Signed by Raghavendra Pal Singh, Director, File No. CBIC-20001/1/2024-GST.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-22022024-252294 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 781] NEW DELHI, THURSDAY, FEBRUARY 22, 2024/PHALGUNA 3, 1945 1197 GI/2024 (1) MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 22nd February, 2024 No. 06/2024-Central Tax S.O. 818(E).—In exercise of the powers conferred by section 158A of the Central Goods and Services Tax Act, 2017 (12 of 2017) and section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby notifies "Public Tech Platform for Frictionless Credit" as the system with which information may be shared by the common portal based on consent under sub-section (2) of Section 158A of the Central Goods and Services Tax Act, 2017 (12 of 2017). Explanation.— For the purpose of this notification, "Public Tech Platform for Frictionless Credit" means an enterprise-grade open architecture information technology platform, conceptualised by the Reserve Bank of India as part of its “Statement on Developmental and Regulatory Policies" dated the 10th August, 2023 and developed by its wholly owned subsidiary, Reserve Bank Innovation Hub, for the operations of a large ecosystem of credit, to ensure access of information from various data sources digitally and where the financial service providers and multiple data service providers converge on the platform using standard and protocol driven architecture, open and shared Application Programming Interface (API) framework. [F. No. CBIC-20001/1/2024-GST] RAGHAVENDRA PAL SINGH, Director Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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