Goods and Services Tax – GST Dated:- 5-3-2024 – News – Union Finance Minister Smt. Nirmala Sitharaman inaugurates first-ever National Conference of Enforcement Chiefs of the State and the Central GST Formations in New Delhi Dated:- 5-3-2024 – FM exhorts GST officials to engage with stakeholders to understand their concerns, enhance compliance, streamline processes, and work collaboratively towards making the tax system more transparent and efficient GST has simplified indirect taxation and made lives of people easier: MoS Finance Revenue Secretary outlines key priorities for an effective and efficient GST enforcement and emphasises the need for feedback to further improve policy and technology interventions CBIC Chairman highlights importance of maintaining balance between enforcement and fairness in sync with instructions of CBIC The one-day inaugural conference saw in-depth discussions on GST evasion typologies, preferred methods, and prevalent sectors, importance of collaborative
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ctor, Directorate of Enforcement (ED), Director Central Narcotics Bureau (NCB); and DG, Central Economic Intelligence Bureau (CEIB) were also present at the occasion. In her address on the occasion, the Union Finance Minister commended the untiring efforts of both the Centre and States GST formations since 2017 in making the GST a reliable, goal-oriented and capable system by leveraging technology. The Union Finance Minister urged all the GST formations to leverage technology to plug the loopholes as well provide better taxpayer services. Highlighting the importance of innovation, the Union Finance Minister advocated for sharing of emerging best practices, emphasising the need for seamless coordination across States in the larger national interest. Further, Smt. Sitharaman stressed on the significance of holding such meetings regularly among enforcement chiefs of Centre and States, and to leverage this platform for discussing obstacles, exchanging successful strategies, and collectivel
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s simplified indirect taxation and brought down the effective tax rate, thereby made lives of people easier. Shri Chaudhary exhorted the GST formations to work towards facilitating more and more taxpayers. Citing the multi-fold increase in GST collections, Shri Chaudhary appreciated the contribution of the GST authorities in achieving the vision of Prime Minister towards achieving Sabka Saath, Sabka Vikas . He credited the leadership of Prime Minister and Finance Minister in propelling India's economic journey from fragile five in 2014 to top five now. Shri Chaudhary expressed optimism about achieving a monthly target of Rs. 2 lakh crore in GST revenue soon. In his address on the occasion, Shri Sanjay Malhotra, Revenue Secretary emphasised the crucial role of enforcement in ensuring the success of the GST system. Shri Malhotra outlined key priorities – targeting high-risk areas, combating tax evaders, balancing enforcement with taxpayer rights, strengthening collaboration between c
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ide crackdown on fake registrations and bogus billing from May 2023 alone has resulted in detection of ITC tax evasion of Rs. 49,623 crore involving 31,512 bogus firms. CBIC presented that it has detected fake ITC evasion of Rs.1,14,755 crore from the year 2020 till date. Maharashtra State GST showcased the real time monitoring dashboard of suspected non-genuine tax payers (NGTPs). As on 29 th February 2024, State has identified 41,601 suspected NGTPs out of which 6,034 NGTPs were detected . It was further highlighted that detection was based on various intelligence gathered during registration, e-way bills and inputs from CBIC/other states and outlined the steps taken to improve detection rate at an early stage. During the focussed thematic sessions, the delegates from Central and State GST formations discussed various issues through in-depth discussions such as GST evasion typologies, preferred methods, and prevalent sectors, importance of collaborative efforts, need to utilize techn
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various analytical tools available to the tax officers to detect risky taxpayers and combat GST evasion. Discussion was also centred around ways of streamlining the tools and to make them available to all GST enforcement formations. DG Analytics and Risk Management showcased risk analytical tool to detect potential GST evaders early in the cycle even before filing of first return. Gujarat highlighted the recent success of GST Seva Kendras in reducing the number of fake registrations. The recent case involving fake registration wherein 20 people have been arrested under Gujarat Control of Terrorism and Organised Crime Act, 2015 was also highlighted as a case study of best practice. Karnataka highlighted unique case typologies such as bill trading in services sector and mild steel scrap, misclassification etc. West Bengal highlighted the benefits of establishing a cyber forensic lab aiding investigation of GST frauds. Uttarakhand, Sikkim and Andhra Pradesh also presented their best pract
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