Revenue Secy to hold meet on GST system, plugging leakages on January 7
New Delhi: In order to streamline Goods and Service Tax (GST) system and refunds, enhance GST compliance on a better pedestal and discourage tax evaders and those gaming or misusing the system, a daylong brainstorming session of Commissioners of State Tax and Chief Commissioners of Central Tax is scheduled to be held under chairmanship of the Union Revenue Secretary Ajay Bhushan Pandey in New Delhi on January 7.
This multifaceted brainstorming meeting is being organised with the purpose of curbing fraud and evasion, checking fake or huge ITC claims, seeking bank account details of businesses to tally with their filings, misuse of refund and sharing best practices in revenue augmentation.
As per sources, discussions in the meeting would focus on the road ahead with e-invoicing, new return system and feedback, e-way bill linking with Fastag, pendency of refunds, linkage of Aadhaar to GST registration, enforcement module use without overreach and the QR code.
"A detailed review of further use of data analytics and artificial intelligence in the process of enforcement and red-flagging the tax evaders and fake refund claimants would also be taken up to augment revenue and better compliance without overreach. It would also examine the processes designed to give due role to the collating and combined study of data from the third parties like banks/IFU-India," the sources said.
This meeting would be attended by the senior officers of Central Board of Indirect Taxes and Customs, Central Board of Direct Taxes, Financial Intelligence Unit (FIU), DGARM, Systems and GSTN officials, concerned field officers and also the enforcement wings to develop a targeted approach to stop tax/duty evasion without any overreach or harassment to the genuine taxpayers.