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Aug 19, 2014
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CBEC's `Third Eye' to Track Tax Evasion
India's indirect taxes body, the Central Board of Excise and Customs (CBEC) could start monitoring power consumption and payments towards value added tax in states as it proposes to use information from third-party sources to nab tax evaders. The plan draws heavily from income tax authorities and hinges on the data shared by power utilities, stock exchanges, banks and Registrar of Companies in their information returns to verify their tax payments.
Source -
http://gst.taxmann.com
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