“Track And Trace” Mechanism to Check GST Evasion: Finance Bill 2025

The Finance Bill 2025 proposes the introduction of a track-and-trace mechanism to curb GST evasion. This system will enable the government to trace the movement of goods and ensure that taxes are paid on time, preventing evasion at various stages of the supply chain. The track-and-trace mechanism will help in identifying and addressing issues related to tax fraud, ensuring greater transparency in the GST system. This proposal is expected to enhance compliance and minimize revenue losses from evasion, as businesses will be required to maintain accurate records of their transactions under the new system, helping to create a more efficient tax ecosystem.