Collecting GST but not depositing
I feel like the underbilling in trade taking place to evade GST, even more common is the practice of collecting gst but not depositing it. This is a practice being followed by most traders across the country.
We must brainstorm a solution to this and present to the Govt with local circles assistance.
My submission is that if their are norms for sales that are enforced by govt and manufacturer, distributor adhere to, scope for selling without bill will be reduced at the retail end.
Even right now material from back end manufacturer and distributor is being made available without gst invoice and hence though the seller is selling on MRP they are not depositing any taxes with Govt.
Many members will be able to shed morw light. Lets work with Govt and through systemic solution plug this big hole. more
We must brainstorm a solution to this and present to the Govt with local circles assistance.
My submission is that if their are norms for sales that are enforced by govt and manufacturer, distributor adhere to, scope for selling without bill will be reduced at the retail end.
Even right now material from back end manufacturer and distributor is being made available without gst invoice and hence though the seller is selling on MRP they are not depositing any taxes with Govt.
Many members will be able to shed morw light. Lets work with Govt and through systemic solution plug this big hole. more
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Your inference on depositing the GST collected from the consumers with the government may not be correct as recently Mr Arun Jaitly, FM claimed that the aggregate collection of GST for last 9 months period had been much beyond the estimated amount of collection. more
Jul 05
Sorry, its not based on propaganda but a statement given by Mr Arun Jaitly a couple of days back as per news paper reports. more
Jul 06
Dear Mr. Mohan, do you have any data to support your feeling that underbilling is taking place & that people have charged but not deposited GST? It would be interesting to understand in case you have any first-hand experience of such things happening at a large scale. more
Jul 06
Dont believe in propaganda....GST collection has fallen well below the aggregate collection of VAT, CST, Central Excise Duty and Service Tax. No body is publishing such reports. more
Jul 05
It is a challenge to get 360 view of tax flow. On every known and unknown holes tax money are drained. Single point tax collection may resolve the issue. more
Jul 05
Yes, it is a fact that "GST s being collected, but not deposited". Government machinery should be vigilant. more
Jul 05
In my area Kompally, SECUNDERABAD 500014/500100, I am yet to come across a shop that issues receipts. When demanded they give an estimate and expect us to be satisfied. How many traders are we going to get into arguments with everyday! Govt should evolve a proper workable strategy to deal with this menace. Obviously the manufacturers are themselves supplying unaccounted goods to the dealers and the traders. more
Jul 04
