The GST Council has approved a “track and trace” system to combat tax evasion on specific goods, starting with cigarettes and potentially pan masala. This system uses unique identification markings to monitor products throughout the supply chain, addressing significant revenue losses from smuggling and illicit trade, estimated at Rs 21,000 crore annually for cigarettes alone. The GST Council has approved a “track and trace” system to combat tax evasion on specific goods, starting with cigarettes and potentially pan masala. This system uses unique identification markings to monitor products throughout the supply chain, addressing significant revenue losses from smuggling and illicit trade, estimated at Rs 21,000 crore annually for cigarettes alone.
