Caution needed
In the mercurial world of finance, the spectre of a bubble looms ominously over investors, casting shadows of doubt and trepidation.
The central government on Saturday issued a notification to bring the Goods and Services Tax Network (GSTN) under the Prevention of Money Laundering Act (PMLA).
With the implementation of the said order, the information stored on the GST Network can now be shared under the PMLA Act. “In the exercise of the powers conferred by clause (ii) of sub-section (1) of section 66 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government, being satisfied that it is necessary in the public interest to do so, hereby makes the following further amendment in the notification of the Government of India, in the Ministry of Finance, Department of Revenue, published in the Gazette of India, Extraordinary, Part II, “Section 3, Sub-section (i), vide number G.S.R. 381(E), June 27, 2006,” the official notification read.
“In the said notification, after the serial number (25) and the entry relating to it, the following serial number and entry shall be inserted, namely (26) Goods and Services Tax Network,” it added.
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