Nirmala Sitharaman, Minister of Finance, Requests CBIC To Implement Automated GST Scrutiny System By Next Week

FM Nirmala Sitharaman

Implement automated GST scrutiny, FM Nirmala Sitharaman Requests CBIC

May 1, 2023: Finance Minister Nirmala Sitharaman has instructed the Central Board of Indirect Taxes and Customs (CBIC) to launch an automated Goods and Services Tax (GST) scrutiny system by next week.

The new system is expected to reduce the number of manual interventions and improve compliance by streamlining the GST return filing process.

The system will use artificial intelligence and machine learning to scrutinize GST returns and identify discrepancies and potential tax evasion.

The automated system is also expected to reduce the workload on GST officials and provide faster and more accurate outcomes for taxpayers.

In a statement, the Finance Minister said, “The introduction of an automated GST scrutiny system will mark a significant step forward in our efforts to improve compliance and streamline the tax filing process.

The new system will help in reducing the burden on taxpayers and make the process more efficient and transparent.”

The move is part of the government’s ongoing efforts to simplify the GST system and make it more user-friendly.

The government has been working on a number of reforms, including a simplified return filing process, to make it easier for businesses to comply with GST regulations.

The new system is also expected to reduce the incidence of fake invoices and other fraudulent practices, which have been a major challenge for the GST system.

The government has been cracking down on such practices in recent years, and the introduction of an automated scrutiny system is expected to further strengthen its efforts.

The CBIC has been tasked with implementing the new system by next week, and is expected to provide further details on the process and guidelines for taxpayers in the coming days.

Are you an Entrepreneur or Startup?
Do you have a Success Story to Share?
SugerMint would like to share your success story.
We cover entrepreneur Stories, Startup News, Women entrepreneur stories, and Startup stories

Read more Business Stories at SugerMint. Follow us on Twitter, Instagram, Facebook, LinkedIn for latest company news and corporate updates.