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Sanjeev Antal

OG Founder & CEO - P...ย โ€ขย 6m

๐Ÿšจ GST Council Introduces 'Track and Trace' Mechanism ๐Ÿšจ 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: ๐Ÿ” Unique Identification Marking (UIM): Products will feature UIMs to monitor their movement across the supply chain. ๐Ÿšซ Curbing Tax Evasion: Aims to reduce significant revenue losses due to illicit trade, with the tobacco industry losing approximately โ‚น21,000 crore annually. ๐ŸŒ Global Practices: Aligns with international standards, similar to systems in the EU, UK, and Turkey. ๐Ÿญ 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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