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Dinesh Shah

IGST in escrow?

INR1.81 lakh crore had been collected from traders as part of IGST as an advance tax, this money has been lying idle in a sort of an escrow account and can neither be utilised by the centre nor the state governments.

Seems like a clear loss of money and the government should conduct a study and take a decision on IGST more  

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Shishir Kant
This, in my opinion, is an indication that people are involved in business without proper records. Black money is generated through the profits earned. In case government was interested it could have booked all those people who had been involved in black money generation without paying/depositing the tax charged from the buyers. more  
Shyam Maheshwari (Entrepreneur)
As a matter of fact, this amount is not in Escrow account but used by Central Government, otherwise there is no reason why govt is not making payments of eligible refunds. more  
Ashok Malhotra
Dinesh Shah - Please give the source of this information. more  
BASANT BHATIA
The Finance Minister at the Center needs to clarify how much money was collected through IGST and what has been its disposal. more  
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