GST Automated Returns Scrutiny Set to Roll Out
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Businesses will have to more careful while filing gst returns as the automated scrutiny system for the goods and services tax (GST) is about to use advanced artificial intelligence and data analytics to monitor mismatches.
Expected to be rolled out over the next few days, the new system is expected to correlate data in the various GST returns filed by a taxpayer to ensure there are no discrepancies.
Finance minister Nirmala Sitharaman had in a review meeting on April 29 directed the Central Board of Indirect Taxes and Customs (CBIC) to introduce the automated GST return scrutiny by next week.
It is also likely to also use data from other sources like bank accounts, payments and invoices to check for any discrepancies in the GST return.
CLICK ON THE LINK TO WATCH FULL VIDEO,
https://youtu.be/tcQs_EIGoaM
Expected to be rolled out over the next few days, the new system is expected to correlate data in the various GST returns filed by a taxpayer to ensure there are no discrepancies.
Finance minister Nirmala Sitharaman had in a review meeting on April 29 directed the Central Board of Indirect Taxes and Customs (CBIC) to introduce the automated GST return scrutiny by next week.
It is also likely to also use data from other sources like bank accounts, payments and invoices to check for any discrepancies in the GST return.
CLICK ON THE LINK TO WATCH FULL VIDEO,
https://youtu.be/tcQs_EIGoaM
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