What significant role is technology playing in the fight against GST fraud, as seen in the recent ED raids in Gujarat
Examining the techno-legal approach employed in combating fraudulent practices in the GST system through recent raids.
1. Utilization of data analytics: Technology aids in processing vast amounts of data to identify patterns and anomalies that may indicate potential GST fraud.
2. Digital trails: Electronic records and digital footprints left behind by transactions are analyzed to trace the flow of funds and track suspicious activities.
3. Automation in compliance: Automation tools help in verifying compliance requirements, reducing human errors and increasing efficiency in detecting irregularities.
4. Real-time monitoring: Technology enables real-time tracking of transactions, enabling authorities to act promptly upon detecting any fraudulent activities.
5. Integration of databases: Integration of various databases facilitates cross-referencing of information and enhances the effectiveness of fraud detection efforts.
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6 months ago