Review on Artificial Intelligence Role in Implementation of Goods and Services Tax(GST) and Future Scope

Abstract

Tax professionals now have access to new statistical and analytic tools that offer efficiency and simplicity. With the development of AI technology, a new forecasting and statistical model for tax audits has been created. AI can aid in the detection of fraud, which will aid in governmental supervision and control. Expert systems have been found to offer users a significant amount of control over how they search for solutions, freedom to choose whether to follow system recommendations, and a decrease in the need for supervision. Tax systems seem to allow for more independent work to be done, more quick decisions to be made, and a wider range of issues to be addressed. An important source of public funding in a developing country like India is taxes. The recent deployment of a nameless, AI/ML-driven tax assessment system by the Indian government. How do taxpayers feel about employing an AI-powered system for tax assessment? This Study focuses on several GST features made possible by AI and makes suggestions for improving the tools now in use.