Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Tuesday, 24 December 2024

Track & Trace : Arriving as Suggested

 


 

Article link:

GST track trace method may cover cigarettes, pan masala

Extract from the article:

 

The GST Council has given the green light to a "track and trace" system aimed at combating tax evasion related to specific goods, with the initial focus on cigarettes followed by potentially extending the system to pan masala.

 

This system utilizes unique identification markings to monitor and track products at various stages of the supply chain, starting with cigarettes under the "track, trace" framework to enhance the visibility and traceability of these products in the market.

 

 

The move to introduce this system is seen as a strategic step to curb tax evasion and ensure compliance within the supply chain of these specific goods.

 

By implementing unique identification markings that enable real-time monitoring, the authorities aim to enhance transparency and accountability, thereby strengthening tax collection mechanisms and reducing instances of tax leakage associated with these products.

 

My Take:

 

1. Accelerating Transport with Omnipresent RFID

The article on accelerating transport with RFID technology resonates with the recent proposal of implementing a "track and trace" mechanism for cigarettes and potentially pan masala to curb tax evasion.

 

My blog highlighted how GST officials were already using RFID to combat tax evasion by detecting discrepancies in goods movement data. The integration of RFID technology has proven effective in identifying risks of revenue leakage, which aligns with the current effort to enhance tax compliance through a similar system for specific goods.


2. A New Way to E-Way


In my blog from four years ago, I suggested a new approach to E-Way bills, emphasizing the need for improved monitoring and verification mechanisms to prevent tax evasion.

 

The current initiative to introduce a "track and trace" system for cigarettes and pan masala, leveraging RFID technology and data analytics, reflects a step towards greater precision in tax administration efforts to combat evasion and ensure compliance. This development echoes the importance of technological advancements in enhancing tax collection mechanisms and underscores the relevance of my past recommendations in the present context.



Call to Action:

 

To the GST Council and relevant authorities,

 

I urge a comprehensive rollout of the "track and trace" system across a wider range of goods beyond cigarettes and pan masala.

 

By leveraging technology and data analytics, continued efforts to strengthen tax compliance and combat evasion will not only enhance revenue collection but also foster a transparent and accountable ecosystem for businesses and consumers alike.

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With regards,

 

Hemen Parekh

 

www.My-Teacher.in  /  X-Mas  2024

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