How GST frauds are taking place
Lots of circular trading and input tax credits. Read attached. more
do you know that in Gurgaon GST department 10 % is the flat call rate for refund of the Input tax to the exporters. What a shame to the system, Finance Minister and the PMO with CM haryana. more
Another example of how far greed can take a person. Thanks to the Addl Director General concerned for unearthing this fraud! more
Mr. Mohan Mittal, I am not politicising the tax issue which is already in the political domain for the past so many decades. Right from the stage of tax policy to the procedure of collections to the posting of man power the taxes are managed by the bhakt bureaucrats and their masters in the political governance. I loudly say, baring a few exceptions, the biggest contributor to political leaders and parties are from the trade and business which is not possible unless the tax managers and the police are hands in gloves. I loudly say this, whether you and Mr. Satish Shenoy agree or not. I am saying all this with personal experience. more
Charge GST on Turnover and no ITC concept more
(1) Tax avoidance is provided in the system of tax collection by the party in power who designs the budget proposals. When announcing GST implementation the GoI in the hands of the existing political power did not give the format of the TAX invoice that the retailers would have given to the consumers, nor the State Governments linked the computers at the end of retailers with a central point in the office of Trade and Taxes of the State, nor the States' Department of Consumer Affairs bothered about the interest of consumers. I personally have been raising the issue with a loud voice, but in vain. One can accept an error of, say, upto 2%-3% in tax collection but not the one 95%-98% a last portion of which the trade uses in paying bribe to those at the helm of affairs. This is how the coffers of political parties and leadership are filled.
(2) It is no certificate of genuineness of tax avoidance if the same is prevalent in other countries.
(3) The economists in NITI ayog have miserably failed to provide economic policies that do not allow or at least reduce the generation of black money. The trade and industry is the biggest generator of black money as is the case with GST. It has been there in the regime of VAT and earlier to that. more