The Indian government grapples with substantial fiscal losses stemming from rampant Goods and Services Tax (GST) fraud and evasion. As a response to this pressing challenge, governments worldwide are increasingly demanding enhanced business transparency, which includes meticulous reporting leading to the rigorous reinforcement of compliance requirements. The existing GST framework is fraught with multifaceted issues, foremost among them being businesses’ responsibility for precise GST calculation and submission to tax authorities. Further complexity arises from the fixed settlement periods (e.g., monthly or quarterly), leading to potential confusion and reporting discrepancies. In this context, the advent of blockchain technology presents itself as a highly favorable solution. By furnishing a singular, immutable source of truth and ensuring secure data distribution among multiple stakeholders, blockchain has the potential to streamline GST operations, substantially curtail fraudulent activities, and enhance compliance. This research explores the transformative potential of blockchain in bolstering GST collection and fortifying the fiscal stability of the Indian government. In this paper, we present a GST network that utilizes blockchain technology. The network facilitates real-time GST reporting and automates settlements through a robust two-sided invoice validation process. The result is a system that not only enhances tax compliance but also significantly diminishes the risk of tax fraud. This paper not only discusses the technical aspects, including architecture, network design, chaincode implementation, and front-end application, but also adds to the existing literature by outlining new design principles.