By Rasheela Basheer – On June 30, 2022 5:17 pm
The GST Council after its 47th meeting held at Chandigarh has approved most of the recommendations of the GoM formed for reporting IT reforms and decided to implement AI/ML to check fraud /evasion at the early stage.A press release issued by the Government said that “The GoM on IT Reforms, inter alia, recommended that the GSTN should put in place the AI/ML based mechanism to verify the antecedents of the registration applicants and improved risk-based monitoring of their behavior post-registration that non-compliant taxpayers should be identified in their infancy and appropriate action be taken so as to minimize risk to exchequer.”The recommendations of the GST Council have been presented in this release containing major item of decisions in simple language for information of all stakeholders. The same would be given effect through relevant Circulars/ Notifications/ Law amendments which alone shall have the force of law.The Union Finance Minister Nirmala Sitharaman, while addressing the press, informed the recommendation to keep the GoM on IT services permanently.Support our journalism by subscribing to Taxscan AdFree. Follow us on Telegram for quick updates.
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Source: https://www.taxscan.in/gom-recommends-use-of-ai-ml-to-track-evasion-at-the-early-stage/187985/
