✅ Now, all the GST returns must be filed carefully as the automated scrutiny system for the 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.
✅ The new system will be on the lines of the income tax department’s computer assisted scrutiny selection (CASS) where in based on certain parameters, an automated notice is sent.
✅ In case of any discrepancy in returns for GST, an automatic scrutiny notice will be sent. In case of genuine errors, taxpayers will be given an opportunity to rectify returns.
✅ The move is a part of the government’s move to widen the taxpayer base and increase compliance.
✅ In a recent national level coordination meeting of Central and state tax officials, the use of data analytics was a key focus area to cut down on tax evasion.
✅ New functionalities have been introduced in the Advanced Analytics in Indirect Taxation (ADVAIT) system that would allow deeper analysis of revenue and trends in export and import.
✅ It would also use advance data science models to analyse outliers in both customs and GST.
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