The Centre will annually pay nearly ₹500 crore to Goods and Services Tax (GST) Network as service charge on behalf of taxpayers. There was a plan to charge the assessees but Government said since they will be paying tax to government, it will not be correct to charge them. The Centre will instead compensate GSTN for the service, according to Navin Kumar, Chairman, GST Network.
The GST Network is a not-for profit organisation created as a special purpose vehicle to implement technology to run GST. The Centre and States have 24.5 per cent stake respectively while financial institutions have 51 per cent in GSTN.
Every month, nearly 320 crore invoices are to be uploaded into the GST network. For that, the network needs about 20 petabytes of storage every month. For two years, the storage required will be around 500 petabytes. The private data centre dedicated for GSTN will be in Delhi and a disaster recovery centre in Bengaluru, he told newspersons on sidelines of SICCI Interactive Session on ‘ Taxpayers Facing Processes on GST Portal.”
With the GST portal going live on November 8, the enrolment drive of taxpayers has commenced to migrate over eight million taxpayers to GST network.