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CBDT issues Order to Upload GST Return Information in the Annual Information Statement in Form 26AS

cbdt-issues-order-to-upload-gst-return-information-in-the-annual-information-statement-in-form-26as

CBDT has issued an Order under section 119 read with Rule 114-I of the Income Tax Rules, 1962 to authorize the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) to upload information relating to GST return, which is in his possession, in the Annual Information Statement in Form 26AS, within three months from the end of the month in which the information is received by him.


Rule 114-I was inserted by CBDT vide Notification No. 30/2020 dated 28.05.2020 to notify the new Annual Information Statement (AIS) under section 285BB to replace age-old Form 26AS notified under Rule 31AB. The New Annual Information Statement (AIS) was made effective from 01.06.2020.


The Finance Act 2020 has inserted a new section 285BB regarding Annual Information Statement, in order to expand the scope of Form 26AS beyond the information related to taxpayers tax deducted and tax collected. The erstwhile Form 26AS which was notified under section 203AA read with Rule 31A is deleted from the statute from 01.06.2020.


Read Also:

CBDT Notifies New Annual Information Statement (AIS) to replace Form 26AS to report TDS, Foreign Tax Credit, and more

Annual Information Statement to replace Form 26AS-Budget 2020

Section 285BB of the Income Tax Act, 1961 on Annual Information Statement reads as follows-

The prescribed income-tax authority or the person authorised by such authority shall upload in the registered account of the assessee an annual information statement in such form and manner, within such time and alongwith such information, which is in the possession of an income-tax authority, as may be prescribed.


Explanation.––For the purposes of this section, “registered account” means the electronic filing account registered by the assessee in designated portal, that is, the web portal designated as such by the prescribed income-tax authority or the person authorised by such authority.


Annual Information Statement or AIS is more comprehensive than the Form 26AS as it will contain more information about financial transactions of taxpayers beyond the TDS and TCS transactions


Read Also:

New Form 26AS to show Specified Financial Transactions (SFT) in Part E


Further, in July 2020, a Memorandum of Understanding (MoU) was signed between the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC) for exchanging data between the two organisations.


Read the full text of the Order u/s 119 on Uploading GST Return Information in the AIS in Form 26AS


F.No.225/155/2020/ITA.II

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes 

****

New Delhi, the 29th September, 2020 


Order


In exercise of powers conferred under section 119 of the Income-tax Act,1961 read with sub-rule (2) of Rule 114-I of the Income-tax Rules,1962, the Central Board of Direct Taxes (‘Board’), hereby authorizes the Principal Director General of Income-tax (Systems) or the Director-General of Income-tax (Systems) to upload information relating to GST return, which is in his possession, in the Annual Information Statement in Form 26AS, within three months from the end of the month in which the information is received by him.


2. The Principal Director General of Income-tax (Systems) or the Director-General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of uploading of Annual Information Statement in Fonn 26 AS containing the information referred to in para above. 


(Rajarajeswari R.)

Under Secretary, (ITA-II), CBDT


Download Copy of the Order u/s 119 on Uploading GST Return Information in the AIS in Form 26AS in pdf format


Further Readings:

MoU between CBDT and MoMSME Signed



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