CBIC designates Accounts Aggregator as system for sharing information with Common Portal

The Central Board of Indirect Taxes and Customs(CBIC) has designated “Account Aggregator” as the system for sharing information with the common portal under Section 158A of CGST and IGST Act based on the Council’s recommendation via issuing Notification.

The Notification Stated, “In exercise of the powers conferred by section 158A of the Central Goods and Services Tax Act, 2017 (12 of 2017) and section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby notifies “Account Aggregator” as the systems with which information may be shared by the common portal based on consent under Section 158A of the Central Goods and Services Tax Act, 2017 (12 of 2017).”

This notification shall come into force with effect from the 1st day of October, 2023.

“Account Aggregator” means a non-financial banking company which undertakes the business of an Account Aggregator in accordance with the policy directions issued by the Reserve Bank of India under section 45JA of the Reserve Bank of India Act, 1934 (2 of 1934) and defined as such in the Non-Banking Financial Company – Account Aggregator (Reserve Bank) Directions, 2016.

Summary of CBIC Notification dated 31/07/2023

For Official Notification Download PDF Given Below: