(MENAFN- KNN India) New Delhi, Mar 5 (KNN) Finance Minister Nirmala Sitharaman recently convened the inaugural National conference of Enforcement Chiefs of the State and Central GST Formations, emphasising the pivotal role of technology in fortifying the tax system.
In her address, Sitharaman underscored the imperative for leveraging technological advancements to address loopholes and enhance services for taxpayers.
Sitharaman emphasised the urgency of addressing classification-related issues promptly through appropriate channels.
Furthermore, Sitharaman called upon GST officials to engage stakeholders actively to understand their concerns, streamline processes, and boost compliance collaboratively.
She accentuated the significance of regular meetings among enforcement chiefs, fostering a platform for sharing successful strategies and overcoming obstacles towards a more efficient tax infrastructure.
Revenue Secretary Sanjay Malhotra reiterated the critical role of enforcement in ensuring the success of the GST system.
He outlined key priorities, including targeting high-risk areas, combating tax evasion, and strengthening collaboration between central and state authorities.
Central Board of Indirect Taxes and Customs (CBIC) chairman Sanjay Kumar Agarwal underscored the detrimental impact of fake entities and GST evasion on revenue and fair competition.
He stressed the importance of employing strong data analytics and technology to stay ahead of perpetrators of GST evasion.
Agarwal also emphasised adherence to CBIC instructions regarding enforcement actions.
The crackdown on fake registrations and bogus billing since May 2023 alone has uncovered ITC tax evasion amounting to Rs 49,623 crore involving 31,512 bogus firms. CBIC officers have identified fake ITC evasion of Rs 1,14,755 crore since 2020.
During the conference, Maharashtra state GST officers reported identifying 41,601 suspected non-genuine taxpayers, with 6,034 NGTPs detected based on various intelligence sources. Steps to improve detection rates were outlined.
The conference concluded with the decision to hold bi-annual National Conferences of Enforcement Chiefs of State and Central GST Formations, marking a commitment to continuous improvement and collaboration in tax enforcement efforts.
(KNN Bureau)
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