NEW DELHI: The Goods and Services Tax (GST) registration procedure may be enhanced further by utilising technology to prevent the entry of fake entities into the GST ecosystem, said Finance Minister Nirmala Sitharaman on Friday.
The minister also demanded the creation of a national campaign to outline the goals of the unique effort to weed out fraudulent organisations.
Sitharaman was in charge of a meeting to examine the ongoing effort to combat false billing for GST evasion. 11,140 false registrations have already been found, and the minister has been told that legal action has been started against them.
In addition, Sitharaman was informed of the measures being taken to combat bogus registrations as well as the techniques being used, such as stealing people's identities.
She also noted the current actions being taken by the Finance Ministry, such as OTP-based Aadhaar verification and a pilot programme for biometric Aadhaar authentication at registration in high-risk situations.
Sanjay Malhotra, the secretary of revenue, and Vivek Johri, the chairman of the CBIC, informed Sitharaman that many artificial intelligence methods are being utilised to spot potential bogus networks.
An Overview: The use of technology to improve the GST (Goods and Services Tax) registration process has brought about several significant benefits and enhancements. With the implementation of digital solutions, the overall efficiency and effectiveness of the registration procedure have been greatly improved. By leveraging technology to improve the GST registration process, governments can enhance compliance, reduce administrative burdens, and promote a more efficient and business-friendly environment. These advancements not only benefit businesses but also contribute to the overall effectiveness and transparency of the tax system.
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