India News | Budget Proposes GST Amendment: Track and Trace Mechanism for Evasion Prone Goods

New Delhi, Feb 1 (PTI) The Union Budget has proposed a host of amendments in GST law, including implementing the Track and Trace Mechanism, for evasion-prone goods.

The budget inserted a new clause in Central GST law to provide for a definition of Unique Identification Marking for the implementation of Track and Trace Mechanism.

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"Unique identification marking" includes a digital stamp, digital mark or any other similar marking, which is unique, secure and non-removable.

AMRG & Associates Senior Partner Rajat Mohan said the introduction of penalties under new sections like 122B and 148A to enforce track and trace mechanisms indicates a strong push towards digitisation and better supply chain monitoring.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)