“Public Tech Platform for Frictionless Credit” Notified as System for Information Sharing by Common Portal | Notification
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- By Chetan Kulasri
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- Last Updated on 24 February, 2024
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Notification No. 06/2024 –Central Tax dated 22nd February, 2024
The CBIC has issued notification to notify “Public Tech Platform for Frictionless Credit” as the system with which information may be shared by the common portal based on consent under sub-section (2) of Section 158A of the CGST Act, 2017.
Notably, Section 158A has been introduced in the CGST Act vide the Finance Act, 2023. This section enables the consent-based sharing of information provided by a taxable person. It allows the common portal to share specific details furnished by a registered person with other systems as notified by the government, subject to fulfilment of prescribed conditions.
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