CBIC rolls out Automated Return Scrutiny Module for GST returns

Tags: Economy/Finance National News

The Central Board of Indirect Taxes and Customs (CBIC) has recently launched the Automated Return Scrutiny Module for GST returns.

An overview of the news

• This module will enable tax officers to scrutinize GST returns of centrally administered taxpayers based on data analytics and risks identified by the system.

• The module identifies discrepancies in the returns and shows them to the tax officer, who can communicate with the taxpayer through the GSTN Common Portal to resolve any issues.

• The Automated Return Scrutiny Module will help in streamlining the GST return scrutiny process and ensure that it is more efficient, transparent and effective.

• According to the Finance Ministry, the introduction of this module is a significant step towards creating a more technology-driven tax administration system, which will not only improve compliance but also reduce the compliance burden for taxpayers.

About Central Board of Indirect Taxes and Customs (CBIC)

• In India, it is a part of the Department of Revenue under the Ministry of Finance.

• CBIC is responsible for the administration of indirect taxes such as GST, Customs Duty and Excise Duty in India.

• The board was formed in 2019 as a result of the merger of the Central Board of Excise and Customs (CBEC) and the Central Board of Direct Taxes (CBDT).

• CBIC is headed by a Chairman who is assisted by a number of members responsible for various areas such as GST, Customs, Legal and Administration.

• The main functions of CBIC include policy-making, implementation, and administration of indirect taxes, and prevention of smuggling and evasion of taxes.

• CBIC works towards creating a fair and efficient tax administration system, which is transparent and taxpayer friendly.

• CBIC plays a vital role in ensuring compliance of tax laws and regulations in India.