1. Geo Location
A new feature "Geolocation" has been enabled by the Goods and Services Tax Network (GSTN). Now providing the geolocation is made mandatory.
This feature enables users to to update their place of business easily and accurately. This feature is to be used update their addresses during new registration as well as during any address changes made in an existing registration.
2. UPI and Paynow Integration
The integration of India's Unified Payment Interface (UPI) and Singapore's PayNow real-time payment systems is expected to be completed shortly.
The PayNow-UPI connection will allow users to make instant, low-cost fund transfers between Singapore and India.
3. Option to pay GST on FCM to GTAs
In 47th GST Council meeting an option has been provided to Goods Transport Agencies to pay GST on Forward Charge Mechanism.
Now this option is enabled in GST Portal.
The Goods Transport Agency (GTA) must submit its declaration in Annexure V for the Financial Year 2023–2024, by 15th March 2023 to opt to pay GST on Forward charge mechanism.
4. Social Audit Standards
The ICAI has released the final version of its "Social Audit Standards (SASs)," as well as the framework.
Social Auditors must adhere to these 16 SASs in social audits beginning on or after January 14, 2023.
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