GST looters compromising peoples data

So a couple in Noida with their family of CAs conducted a 10000 crore scam in which they used over 600,000 pan cards. Created a ton of shell companies and played the input tax credit game. They been doing this since 2017.

GST inspectors busy checking whether businesses are displaying their GST numbers in their door. Shouldnt they be doing more real work of catching such fraudsters and if they are not capable of doing so, give them early retirement and invest in tech to find the real ones.

Many knowledgeable people in circle, please comment and make this happen. 🙏🙏 more

Helpful Transforming India Jun 05

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Mukesh Kumar V Parmar

continuing the comment:: GSTR1 is filed and GSTR3B is filed. In GSTR3B give a drop down menu to indicate the breakup of Input availed month wise. For eg: GSTR3B filed for the month should give the following drop down menu: Year ~ Month ~ IGST ~ CGST ~ SGST under which one can give the break up of input claimed month wise { including for the past month}, which will ease the litigation. This is something like what we get under Sales for GSTR3B. Going further if really GST is tobe made simple and good and almost litigation free, to a great extent introduce a facility whereby the dealer claiming GST Input in GSTR3B pays the input tax to government and not to the supplier. Dealer can deduct the same from suppliers bill and deposit the same to government while filing monthly GSTR3B, whereby the government gets it revenue dues. And dealer discharges its balance tax liability by cash payment, if more than input tax. Hence, the dealer never lives under threat of reversing input, paying interest or penalty. Dealer does not have to ensure that the supplier has paid the tax or not. Half the GST Act and Rules can be knocked down. And department can concentrate on better work rather than assessment and litigation. Make things really simple and boost the collection. ~ To the Prime Minister, The Finance Minister, GST Directorate and all team ~ Let us Walk Together and Talk Together. more

Jun 06

Mukesh Kumar V Parmar

Stop all the work at GST and merely concentrate on GSTR1. Check whether the liability as per GSTR1 is discharged by the registered dealer every month, if not investigate such dealers in the following month itself. Not to wait for months to pass by. With technology it can me monitored in house and there is no need to deploy huge staff. A mere report of GSTR1 compared with the liability discharged in GSTR3B can do magic. Apart from this, let them introduce one more data upload by every registered dealer ~ that is the details of their inward invoices, i.e. purchases. This will help detect the fake invoice much faster and save the GST department of legal battles. Once the purchase report is generalized GST dealer wise and compared to the liability discharged by GSTR3B filed, the shortages will surface and action be taken immediately. Recover the shortages immediately from supplier/receiver. This will simplify GST and compliances will also improve. Rather than bringing amendments and notifications which are nothing but complications and cumbersome. If the government really wants to simplify the GST {Good and Simple Tax Act} there are many simple solutions to do so and this can be done with much ease. continue to read the comment. more

Jun 05

Sudarshan Venkataramanan

Dont we all like sensational news? The entire report is based on conjectures and surmises. The authorities have got some information which needs to be authenticated. The "loss" is far too high to be true. As for CAs, they seem to be the punching bag for every sundry person. The CA community has more people with integrity and values than any other profession. There are quacks and accountants who are often mistakenly referred to as 'CAs'. In the entire country there are only about 4 Lakhs CAs. Of this, most of the CAs are in employment. The remaining ones who are in practice are well regulated. A few bad apples exist in every profession. In case of CAs, this number is not as high as people imagine it to be. The problem is that many people represent themselves as CAs, but are not. On the other had the suggestion of doing away with Input Tax credit under GST is the most retrograde thought. The maxim is "Cut of the head if you have a headache". Evasion is not caused by Input Tax Credit. Evasion is simply avoiding tax obligations by supressing sales and transactions. That is simple cheating or fraud. Laws also need to be fair, rates within reasonable bands and there should be little avenues for interpretation. Such gaps in teh law are more the cause in addition to a corrupt and punitive tax administration. Some laws are so draconian, that the cost of evasion is actually an incentive. more

Jun 05

Saripalli Suryanarayana

The numbers quoted may be much higher than the actual. But the real thing is the false " narratives" created by the businesses. They need to verify the ownership, Directors and their registration with MOCA. more

Jun 05

Chandan Saha

Perhaps a unique feature of Good governance in this regime. So many fraudsters were identified and many had also fled the country. Govt. must be given credit. It amply made clear now, Slogan, Big talk, publicity really don't work well rather good thought & cool mind always work in silent mode. Now Govt. should take a lesson to plague the pilferage. more

Jun 05

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