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.
Please Rate this article, so that we can improve the quality for you -