Quick Summary
To identify cases of fraudulent claims under Goods Services Tax (GST), the Government of India has taken measures to apply stringent risk parameters-based checks driven by rigorous data analytics and Artificial Intelligence (AI) tools based on which certain taxpayers are taken up for further verification. Moreover, a standard operating procedure has been prescribed for exporters vide Circular No. 131/1/2020-GST dated 23.01.2020 to mitigate the risk of wrongful refund claims of Integrated Goods
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FAQ :
The government is employing stringent risk parameters, data analytics, and AI tools to identify fraudulent claims. They have also issued a standard operating procedure for exporters regarding IGST refunds and inserted new rules to curb wrongful input tax credit claims.
Rigorous data analytics and Artificial Intelligence tools are being used to apply stringent risk parameter-based checks, identifying taxpayers for further verification.
A standard operating procedure has been prescribed for exporters via Circular No. 131/1/2020-GST dated 23.01.2020 to mitigate the risk of wrongful refund claims of Integrated Goods and Services Tax (IGST).
Yes, rule 86A of the CGST Rules, 2017 empowers tax officers, not below the rank of Assistant Commissioner, to block input tax credit if they have reasons to believe it has been availed fraudulently or is ineligible.
The GST Council makes recommendations based on valuable feedback and suggestions received from multiple stakeholders, including State Governments.
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