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  

View all 15 comments Below 15 comments
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  
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  
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  
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  
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  
Post a Comment

Related Posts

    • Mobile Number portability problems

      Glad LC Manager took up this survey on mobile number porting https://www.localcircles.com/a...

      By Shikha Chhabra
      /
    • Cricket World Cup Tickets Scam

      BCCI or whosoever is selling online tickets via bookmyshow and other websites you are likely doing big scam. Ahmedabad match, capacity 135000, ticket was sold out within minute. However ...

      By Dinesh Shah
      /
    • Regulating child access to social media OTT and online gaming

      Is the need of the hour. I am amazed at the fact that many of the mainstream media channels and papers are refraining from talking about it. Perhaps there is vested interest. Super glad ...

      By Sudesh Rai
      /
    • Junk consumption soaring only bad to follow

      Varun Beverages sold 480 Cr Litres of Pepsi and other Beverages in FY23 Dominos India sold 6.7 cr to 7.83 cr Pizzas in FY23 Pizza hut India (Sapphire) sold abou...

      By Sudesh Rai
      /
    • Are we going to have a rabies and dog bit epidemic

      LocalCircles Manager and members are doing excellent work in sensitising the Government to take dog bite menace seriously and on the other hand we have officers like District Magistrate Noida who a...

      By Radha Puri
      /
    • Banking difficulties of people

      Thrilled to see LocalCircles banking difficulties survey in multiple english hindi news papers yesterday.

      By Shailesh Deshmukh
      /
    • Appeasing minorities by giving vehicle subsidies

      Is a really wrong policy that is being deployed bh Karnataka Government. The only way such subsidies must be given is based on economic status (basis tax returns) and not caste. We all r...

      By SN Mittal
      /
    • Kudos LocalCircles

      Great work on bank malpractices and escalating this issue to RBI. All members who have a loan need to save the attached notification in their mobile/computer. Your bank will now have to...

      By Shikha Jain
      /
    • Need safety standards for commercial public events

      A lot of women who went to the AR Rahman concert this weekend had to face horror. Many, i mean a lot were groped and assaulted.

      By Sarita S
      /
    • High costs of medical education

      It is costing anywhere between 1.5 crores to 4 crores for a medical specialisation MD degree. How many people in middle class have this kind of money in their banks which means only chi...

      By Sarita Ravichandran
      /
    • G-20 India - Declarations

      Attached for all those who are interested. This circle has such knowledgeable people. We should discuss how these broad areas of consensus can be translated into real areas of actions on the ground

      By Ashima Gupta
      /
Share
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)