Prevention of Money Laundering Act has nothing to do with GST Law: Sanjay Malhotra

Revenue Secretary Sanjay Malhotra on July 11 said that the Prevention of Money Laundering Act (PMLA) has nothing to do with the GST Law. 

He added that notification to bring GSTN information under PMLA will empower agencies with more information on tax evasion. 

“The Prevention of Money Laundering Act (PMLA) has nothing to do with GST Law. The notification to bring GSTN information under PMLA will empower our agencies with more information on tax evasion which they were not getting earlier,” said Sanjay Malhotra.

The central government on July 11 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.