News Desk, Tech for FTCP, New Delhi
Updated Tue, 17 Nov 2020 06:01 AM IST
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The GST Council's Law Committee agreed to further strengthen the registration process after the meeting. Sources say that the Finance Ministry may also change the law to prevent fraud. The rules for its suspension will also be made stricter with the new registration.
The department will use data analysis techniques to identify such taxpayers and registration will be canceled as soon as they are detected. Along with technology, there is also a preparation to conduct physical and financial verification with the help of field officers. This work will be completed even before the taxpayer registers GST.
Meeting will be held on November 18
The Council's Law Committee will meet again on 18 November to discuss the registration and its suspension in detail. Finance Ministry sources said that the incidence of ITC claims through fake bill has increased significantly. Preparations are being made to take all possible steps to check this. Apart from businessmen, exporters are also involved in this game.