One year of GST: Now, CEO says GSTN will go in for third-party audit of software
GSTN operates the IT backbone for collection of Goods and Services Tax (GST) data of over 1.11 crore registered business entities. A third-party audit will ensure that data filed with GSTN is adequately secured and there are no glitches. GST Network Chief Executive Prakash Kumar said third-party audit is a standard practice which is followed by banking and financial institutions.
GST Network has decided to go in for third-party audit of its software developed by Infosys to ensure that all changes in law are adequately captured and its performance is not lagging on any count, a senior official said. This was revealed just ahead of the first anniversary of GST.
GSTN operates the IT backbone for collection of Goods and Services Tax (GST) data of over 1.11 crore registered business entities. A third-party audit will ensure that data filed with GSTN is adequately secured and there are no glitches.
GST Network Chief Executive Prakash Kumar said third-party audit is a standard practice which is followed by banking and financial institutions.
"Whenever the law is changed or any circular is issued, we have to change the software. We need to have a third party to audit whatever software changes have been made by Infosys. So this is third-party expert audit," Kumar told PTI in an interview.
He said currently the GSTN team audits the software changes which are brought about after any change in law.
"But we want a third-party auditor to certify that whatever changes has been brought about in the law, similarly the software has been changed, not more, not less," Kumar said.
Last year, the Standardisation Testing and Quality Certification (STQC) Directorate, which is under the Department of Electronics and Information Technology, had audited GSTN to check the security of the system.
The audit also encompassed other aspects like mechanism to enhance the resilience of the critical and sensitive GST IT network.
"Entire product which has been developed by Infosys it has been audited once by STQC. STQC will not audit every time. But, for all the changes that have been made I need a third-party to certify.
"This will be a continuous audit of what changes have been made, as per ISO requirement. Not only functional audit, but also performance audit. These would be technological auditors," Kumar said.
Since the rollout of the GST from July 1, 2017, GSTN has handled 11.5 crore returns and processed 376 crore invoices.
Watch this Zee Busines video
Currently, over 1.11 crore businesses are registered under the GST regime, of which 63.76 lakh have migrated from the erstwhile service tax and VAT regime, and 47.72 lakh are new registrants. As many as 17.61 lakh businesses have opted for composition scheme under GST.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How soon will monthly SIP of Rs 6,000, Rs 8,000, and Rs 10,000 reach Rs 5 crore corpus target?
Highest FD rates: Here's what SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are giving to senior citizens on fixed deposits
SBI Guaranteed Return Scheme: Know how much maturity amount you will get on Rs 2 lakh, 2.5 lakh, 3 lakh, 3.5 lakh and Rs 4 lakh investments under Amrit Vrishti FD scheme
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
01:11 PM IST