GSTN now part of AA network to facilitate cash flow lending to MSMEs: RBI

The AA network had been in discussion with the GSTN network for their onboarding for a long time as this would give financial institutions access to data regarding small businesses

In a major development, the Goods and Services Tax network (GSTN) has been included to the account aggregator (AA) network as a financial information provider (FIP) to facilitate cash flow lending to the micro, small, and medium enterprises (MSMEs), the Reserve Bank of India (RBI) said on Wednesday.

“Department of revenue shall be the regulator of GSTN for this specific purpose and GST returns, viz. Form GSTR-1 and Form GSTR-3B, shall be the financial information”, the RBI said.

The AA network had been in discussion with the GSTN network for their onboarding for a long time as this would give