The government has included the Goods and Services Tax Network on the list of entities required to share information with the Enforcement Directorate ED and the Financial Intelligence Unit FIU under the Prevention of Money Laundering Act.
A growing number of Indian buyers are opting for bigger, feature-packed vehicles, marking a shift from what once was a mostly cost-conscious market.
About two-thirds of shopping for groceries and daily essentials are done by men in the country, countering the myth that women typically buy household products from neighborhood stores, according to a study by Kirana Club.
5 Comments
KittyKat
By requiring all entities, including the GSTN, to share information, there is a fair and equal application of the law, preventing any potential loopholes for evasion.
AZUuuuu
Depending solely on the GSTN for information sharing may be problematic if there are any technical glitches or system failures.
AZUK00
Sharing information with the ED and FIU can help in identifying and combating money laundering activities, which is crucial for maintaining the integrity of the financial system.
BuggaBoom
Detecting and preventing money laundering can have significant implications for national security, making this move important in safeguarding the country.
KittyKat
The post does not provide clear information on how the shared information will be used or the criteria for sharing it with the ED and FIU.