Ministry of Finance has issued Notification No. 33/2023 – Central Tax, Dated: 31st July, 2023, designating ‘Account Aggregator’ as the system through which information can be shared via the common portal under section 158A of the Central Goods and Services Tax (CGST) Act, 2017. The notification aims to streamline data sharing and enhance efficiency within the tax system.
The notification empowers ‘Account Aggregators,’ which are non-financial banking companies operating under the policy guidelines of the Reserve Bank of India, to facilitate information sharing on the common portal based on consent. This move is expected to improve data accuracy, compliance, and ease of access for taxpayers and tax authorities.
By recognizing ‘Account Aggregator’ as a reliable platform for data sharing, the Ministry of Finance takes a step towards modernizing and simplifying the GST system. This notification will foster greater transparency, security, and effectiveness in tax administration, benefitting businesses and taxpayers alike. The effective date of 1st October 2023 marks a new era of enhanced information management within the CGST Act.
Ministry of Finance
(Department of Revenue)
(Central Board of Indirect Taxes and Customs)
New Delhi
Notification No. 33/2023 – Central Tax | Dated: 31st July, 2023
G.S.R. 576(E).—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).
2. This notification shall come into force with effect from the 1st day of October, 2023.
Explanation: For the purpose of this notification, “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.
[F. No. CBIC-20006/20/2023-GST]
ALOK KUMAR, Director
