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Sanjeev Antal
OG Founder & CEO - P... • 9m
🚨 GST Council Introduces 'Track and Trace' Mechanism 🚨 The GST Council has approved a 'track and trace' system to combat tax evasion in specific industries. Cigarettes and pan masala are expected to be the initial focus of this initiative. Key Highlights: 🔍 Unique Identification Marking (UIM): Products will feature UIMs to monitor their movement across the supply chain. 🚫 Curbing Tax Evasion: Aims to reduce significant revenue losses due to illicit trade, with the tobacco industry losing approximately ₹21,000 crore annually. 🌐 Global Practices: Aligns with international standards, similar to systems in the EU, UK, and Turkey. 🏭 Industry Impact: Targets sectors prone to tax evasion, starting with tobacco products. Stay Informed and Compliant! #GST #TaxEvasion #TrackAndTrace #CigaretteIndustry #PanMasala #SupplyChain #Compliance #GovernmentInitiative #TaxCompliance #IllicitTrade #RevenueProtection #TobaccoControl #GSTCouncil #UniqueID #SupplyChainManagement #TaxRegulation
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