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MOHIT PANDE

ABOLISH INPUT TAX CREDIT IN GST

Finance ministry informed Lok Sabha on Monday that Input Tax Credit fraud in the last five years was Rs.1.79 Lakh Crores and GST evasion was Rs. 7.08 Lakh Crores.
We only hope that this will open eyes of Government to implement GST Rates without input tax credit. It will make GST System a Good and Simple Tax System as was envisioned by PM Shri Narendra Modiji. It will reduce corruption also. The system without input tax credit is working well in Restaurants.
We request Local Circles to conduct a Survey to assess how many people support GST without input tax credit. more  

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View all 14 comments Below 14 comments
SN Sitaram
The return of ITC may be returned only upon receipt from actual invoice raiser. Hope this will avoid fraud. more  
Ramesh Bhagwat
Mr. Pande's suggestion will need Total Re-thinking on the principle on which GST is based. His suggestion sounds logical but may not be implementable. more  
K C Rana
The govt should develop software which does not allow ITC without verification. Similarly, under billing and no billing be checked. But it is very difficult as in many States politicians the trade without Bill and get share of boots on monthly basis. Even a councillor does not pay octroi and GST as he considers himself a licensed daaku. more  
Sunil Chadha
WE NEED TO UNDERSTAND THAT ITC IS A WAY OF ADDING THE TAX AMOUNT ON THE VALUE ADDITION DONE BY EVERY ENTITY IN THE CHAIN BETWEEN RAW MATERIAL TO FINISHED GOOD, AS RECEIVED BY THE END CONSUMER. more  
Sudheendran Mk
Abolishing ITC is Draconian idea if implemented the end user will suffer a lot. It will be beyond imagination. first of all the taxes charged in India are not in fairer manner. more  
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