Fake Invoice GST fraud
Now, Top management of Manpasand Beverages arrested in fake invoice #GST fraud. multi locational searches were conducted on various premises of Manpasand on May 23. Searches resulted in unveiling of fake/dummy units for committing tax evasion of Rs 40 cr
Some control is needed to this fraud is detected at large scale and fines collected to minimise this. more
present,"ease of doing business" environment, unscrupulous enterprises
cannot be controlled or monitored. I understand [but cannot confirm it]
that the previous UPA regime proposed only one rate for all goods and
services, but the state govts. forced the present NDA regime to totally
COMPLICATED THE SYSTEM, WHICH HAS ALREADY PAVED WAY FOR SUSTAINED
C#####@@@@@**** PRACTICES. AS LONG AS A COMPLICATED SYSTEM PREVAILS, BE
TO GST OR CUSTOMS, YOU WILL HAVE MORE OF SHELL UNDERTAKINGS, MULTIPLICITY
OF INVOICES, WITH CASCADING ITC REFUNDS. PLEASE TOLERATE IT. IF YOUR
BLOOD BOILS ON SEEING THESE GOLMALS, TAKE A GLASS OF WATER AND COOL DOWN.
THE GST ORGANISATION IS TOO BIG.
On Sun, May 26, 2019 at 12:04 AM Naina Mittal <firstname.lastname@example.org>
The solution is to remove the provision of Input Tax Credit and reduce the GST rates to three rates 0%, 5% and 10%. The advantages will be:
1. There will not be any need for invoice matching for claiming Input Tax Credit.
2. Filing of GST Return will be simplified.
3. Fake invoices will not be raised.
4. Every transaction falling under GST will have to pay GST.
5. GST officials responsible for collecting GST will be able to devote more time to productive work instead of trying to find fake transactions through fake invoices. more
Once, these two proposals are in place, the cases of such frauds will be minimal. more