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Sanjeev Antal

Stealth • 16d

🚨 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

4 replies1 like

Replies (4)

Anonymous 3

Stealth • 15d

Sure, it aligns with international standards, but India’s chaotic supply chains will make implementation tricky.

0 replies

Anonymous 2

Stealth • 15d

₹21,000 crore in tax losses is insane. Idk why we dont think of taxing the rich the same way we tax everyone else. Ye sab GST ka bhasad hi solve ho jayega

0 replies

Anonymous 1

Stealth • 16d

Kya wth? I didn't understand only

1 replies

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