The Government is using data analytics, big data and Artificial Intelligence/Machine Learning in tax administration to make it more effective, free of official discretion, business and taxpayers friendly. This was stated by the Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Lok Sabha on March 27, 2023.
Data analytics is being used to identify fiscal risks, suspicious trends and patterns and risky entities in Customs and GST by leveraging big data, the Minister added.
Source: a2ztaxcorp.com
Latest Posts in "India"
- GST Reduction on Fruit Drinks Excludes Colas; Prices Remain Unchanged for Carbonated Beverages
- Supreme Court Stays Retrospective GST Penalty, Examines Applicability to Non-Taxable Persons
- India Unveils Simplified GST Rate Structure
- GST 2.0: Key Changes, New Rates, and Business Impact Explained
- Guide to GST Refunds for Unregistered Persons: Cancelled Service Contracts Explained
