New Mechanism to Curb GST Fraud in ITC Claims Expected by November

A new mechanism to curb GST fraud in Input Tax Credit (ITC) claims is expected to be implemented by November. The GST Council is working on a system that will integrate Artificial Intelligence (AI) and data analytics to track suspicious ITC claims in real-time. This system aims to prevent fraudulent claims and enhance tax compliance by cross-verifying data between GST returns and income tax filings. The anticipated mechanism reflects the government's focus on leveraging technology to reduce tax evasion and safeguard revenue collections under the GST framework.