How Does Blockchain Improve GST Data Security?
With the rapid digitalization of tax systems, GST (Goods and Services Tax) data security has become a primary concern for governments and businesses alike. GST involves vast amounts of sensitive financial data, including tax returns, invoices, and compliance records, which are often vulnerable to fraud, manipulation, and cyber threats. Blockchain technology offers a revolutionary solution […]
How Blockchain Can Prevent Tax Cascading in GST Frameworks?
The Goods and Services Tax (GST) was introduced as a unified tax system to replace multiple indirect taxes and eliminate the cascading tax effect, often called “tax on tax.” Despite its implementation, inefficiencies in processes, fraudulent claims, and invoice mismatches still lead to unintended cascading effects. Blockchain technology, with its decentralized and transparent nature, has […]
