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Geocoding

GS Paper III Indian Economy

Context:

Amid concerns over fake registrations and fraudulent availment of input tax credit under the Goods and Services Tax (GST) regime, the GST Network (GSTN) made the geocoding functionality live for all states and union territories.

About Geocoding:

Geocoding is a process that converts an address or description of a location into geographic coordinates.
Purpose: To ensure the accuracy of address details in GSTN records and streamline the address location and verification process.
It is available for normal, composition, SEZ units, SEZ developers, input service distributor and casual taxpayers who are active, cancelled, and suspended.

Goods and Services Tax Network (GSTN)

It is a non-profit company registered under Section 8 of the Companies act, 2013.
It is an IT Initiative that provides an Indirect Taxation platform for GST to help taxpayers in India to prepare, file returns, make payments of indirect tax liabilities and do other compliances.
It acts as an uniform interface for the taxpayers under indirect taxes through a common and shared IT infrastructure between the Centre and States.
Shareholding Pattern:
1. 51% held by private players
2. Centre and State governments together holds 49% equity in GSTN

News Source: Indian Express

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