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The Group of Ministers on ‘Improving GST Compliance’ have made a few important recommendations to prevent evasion of GST (Goods and Services Tax). In today’s meeting, the panel headed by Maharashtra Deputy Chief Minister Ajit Pawar opined that the effective use of biometric system is a must to block tax evasion.
The panel has further advised inspection of the workplace, direct inspection of financial transactions based on the person’s information available with tax authorities and direct inspection to curb bogus registration. Besides, the committee has said that registration of consumer number as per electricity bill must be made mandatory at the time of GSTN registration. Certification of the person’s bank accounts by National Payments Corporation of India and setting up of a feedback mechanism to detect malpractices of suspected traders are the other recommendations.
Even though the panel was unanimous that taxpayers must not be inconvenienced in any way, they agreed that a strong machinery was necessary to prevent tax evasion and to increase revenue. Emphasizing on the use of technology, Mr. Pawar said registration of bogus traders must be cancelled immediately and measures should be taken to regularize ITC (Input Tax Credit) chains and to check false bills.
Haryana Deputy Chief Minister Dushyant Chautala, Tamil Nadu Finance Minister Dr Palnivel Thiaga Rajan, Finance Minister of Assam Mrs Ajanta Niyog participated in the meeting.
Sources : News on AIR