Govt proposes to integrate FASTag Bank Mechanism with e-way bill to check GST evasion
The Government proposes to integrate a FASTag Bank Mechanism with e-way bill and Logistic Data Services to track movement of goods and check GST evasion.
The Government is contemplating integration of E-Way Bill mechanism of GST with FASTag System of National Highway Authority of India (NHAI).
The aspect of Logistic Databank integration with FASTag System is being examined.
A Committee of Officers comprising of officers from Central Government, State Governments, GSTN (Goods and Services Tax Network), NIC (National Informatics Centre), GST Council, to examine the issue of use of RFID data for strengthening of E-Way Bill mechanism under GST, was formed by GST Council. The representatives of NHAI and NPCI (National Payments Corporation of India) were also co-opted in the committee.
The Committee of Officers has submitted its report to the GST Council, recommending integration of FASTag system with E-Way Bill mechanism.
The recommendations of the Committee are under consideration by GST Council. Further, with regard to integration of FASTag with LDB, a committee comprising of Central Board and Indirect Taxes and Customs (CBIC), NHAI & its associates, NPCI, GSTN, NIC, Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) & its associates was formed to examine the feasibility of the same. The committee has submitted its report, which is being examined.
This was stated by the Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman in a written reply to a question in Lok Sabha on 24th June 2019.
……. End ……….
Author’s Note:
FASTag is an electronic toll collection system in India, operated by the National Highway Authority of India (NHAI). It employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid or savings account linked to it. It is affixed on the windscreen of the vehicle and enables to drive through toll plazas without stopping for transactions. The tag can be purchased from official Tag issuers or participating Banks and if it is linked to a prepaid account, then recharging or top-up can be as per requirement.
As per NHAI, FASTag has unlimited validity. 7.5% cashback offers were also provided to promote the use of FASTag. Dedicated Lanes at some Toll plazas have been built for FASTag.
On 1 October 2017, the NHAI launched a FASTag lane in all 370 toll plazas under its ambit.
Source: en.wikipedia.org
