CBIC has notified “Account Aggregators” as the systems with which information may be shared by the ‘Common GST Portal’ based on consent under Section 158A of the CGST Act, 2017, vide CT Notificcation 33/2023, effective October 1, 2023, in line with recommendations of the 50th meeting of GST Council.
Further, it is explained in the notification that “Account Aggregator” means a non-financial banking company (NBFC) which undertakes the business of an Account Aggregator in accordance with the policy directions issued by the RBI.
CBIC Central Tax Notification 33/2023 dated 31/07/2023: Account Aggregators Notified as Systems for Consent Based Information Sharing by GST Portal u/s 158A
This notification will facilitate the consent-based sharing of information of registered persons available on the common portal with other systems. Account Aggregators will be notified as the systems for sharing information, further strengthening compliance and data sharing.