GST council may approve consolidated monthly invoices for Banks-Insurance Companies

New Delhi, Oct 21 (KNN)

In an attempt to ease the burden on the Goods and Services Tax portal GSTN that has earlier crashed on several occasions, the GST council may announce the banks and insurance companies to file consolidated monthly invoices.

This move from the GST council comes in the backdrop of the GST server crashing due to the overload with separate invoices for each transaction.

The main reason for this development is due to the engagement of banks and insurance companies in separate invoices for each transaction that had caused the GST portal to crash earlier.

The Goods and Services tax (GST) was launched by the government on July 1, following which different sectors have time and again raised concern over the GST portal crashing down during peak filing dates and hours.

(KNN/DA)