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West Bengal minister alleges GST fraud, asks Finance Minister for inquiry - GST Station

West Bengal minister alleges GST fraud, asks Finance Minister for inquiry

West Bengal minister alleges GST fraud, asks Finance Minister for inquiry

    He has alleged that ₹45,682 crore tax evasion had been detected since the rollout of GST in July 2017.

    Alleging that there could be evasion of Goods and Services Tax (GST) to the tune of ₹1 lakh crore in the country, West Bengal Finance Minister Amit Mitra has asked Union Finance Minister Nirmala Sitharaman to undertake a thorough investigation into the matter.

    In a letter to the Union minister on Tuesday, the Bengal minister said the scale of the fraud had been quantified in a reply by Minister of State for Finance Anurag Thakur to Rajya Sabha where he said ₹45,682 crore tax evasion had been detected since the rollout of GST in July 2017.

    “In fact, this massive fraud under GST is understated as complete data of frauds under SGST [State GST] have not been factored in. If the detected and undetected cases of tax fraud of all States under SGST are compiled, then the tax evasion figure may cross ₹1 lakh crore,” he wrote.

    He added that not having the provision of invoice matching but giving dealers input tax credit anyway meant that there was no way to check the veracity of the claimed GST, leading to “widespread tax frauds and hawala transactions”.

    He asked the Finance Minister to set up a thorough investigation to detect tax evasion and take action against those involved, and roll-out a new returns system where invoice matching is done for large taxpayers by October 2019 and for all taxpayers by January 2020.

    Source- The Hindu.

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