CBIC will soon have Advance Analytics in Indirect Taxation
Vivek Johri, Chairman of the Central Board of Indirect Taxes and Customs, announced in a newsletter that the Central Board of Indirect Taxes and Customs will soon have Advance Analytics in Indirect Taxation (ADVAIT).
ADVAIT (Advanced Analytics in Indirect Taxation) has received a new suite of functions from the Directorate of Systems and Data Management. The new features are intended to allow for a more in-depth and comprehensive analysis of revenue and import and export trends.
Functionalities utilise strong data science algorithms to identify outliers and abnormalities in both Customs and Goods and Services Tax. These features will help us gain an improved understanding of our revenue profile and block any potential leakages. The functions use advanced data science algorithms to detect outliers and anomalies on both the Customs and GST side.
These functions will help us obtain a better knowledge of our revenue profile and block any potential leakages. New ADVAIT functionalities to identify outliers and anomalies in GST and Customs.