CBIC to deploy AI and real time tax tools
Business
The Central Board of Indirect Taxes and Customs (CBIC) just announced plans to roll out artificial intelligence and real-time data tools in its operations.
The big idea? Cut down on paperwork, make things smoother for taxpayers, and connect GST, customs, and indirect tax payments into one easy system.
Vivek Chaturvedi targets near paperless operations
CBIC's chairman Vivek Chaturvedi says the goal is a near-paperless, touch-free experience within the next decade, making businesses' transaction costs lower.
They're also stepping up support for MSMEs through programs like the Authorized Economic Operator (AEO), which already has more than 6,000 entities helping keep global trade secure.
Plus, India is teaming up with 11 other countries to make international trade even easier.