A taxing problem

The Union Budget is around the corner, and concerns related to the goods and services tax (GST) will be playing on the mind of both policymakers and investors. The GST has under-performed relative to expectations, and some in government have placed the blame on widespread evasion. In particular, there is concern that input tax credit facilities are being misused following the incorrect issue of invoices in the absence of the actual supply or movement of goods and services. This, under the current GST Act, is an offence, and GST commissioners have been provided with powers of arrest under these.....

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel
Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.