MUMBAI, India, Aug. 10 -- Intellectual Property India has published a patent application (202621066851 A) filed by Vishwakarma Institute Of Technology on May 27, 2026, for A System For Billing, Predictive Taxation And Inventory Management With Blockchain.
Inventors include Sanap, Madhura Eknath; Sangve, Sunil M.; Shamkuwar, Sonal; Wankhade, Shalini; Kolekar, Sachin Madhukar; Gupta, Ritansha; Ramteke, Dipanshu; and Choudhary, Lohita.
The application for the patent was published on July 31, 2026, under issue no. 31/2026.
Abstract: The present invention relates to a system for billing, predictive taxation and inventory management with blockchain. The system comprises a user interface layer (201), a billing computation engine (202), a historical database and analytical module (203), a predictive tax estimation unit (204), a blockchain verification layer (205) and an inventory management subsystem (206). The user interface layer (201) enables entry of transaction details which are processed by the billing computation engine (202) to generate invoices with GST calculation. The transaction data is stored in the historical database (203) for analysis and pattern identification. The predictive tax estimation unit (204) utilizes statistical forecasting models to estimate future tax liabilities. The blockchain verification layer (205) generates a SHA-256 hash of invoice data and stores it in a distributed ledger for ensuring data integrity and authenticity. The inventory management subsystem (206) updates stock levels in real time, monitors consumption patterns and generates alerts based on predefined threshold limits.
Disclaimer: Curated by HT Syndication.
