Visakhapatnam GST Intelligence arrests CA for major GST fraud
Attached please find a Press Note Visakhapatnam GST Intelligence arrests CA for major GST fraud.
The provision of Input Tax Credit is being used for GST fraud.
The Finance Ministry and GST Council should consider removing the provision of ITC in the budget 2021-22 and announce new GST rates without input tax credit.
We would like to suggest GST rates w/o ITC:
a) 0% for exempted items
b) 5% for all goods & services
c) 15% for Luxury (Sin) goods
d) 15% for Petrol, Diesel & Liquor more
The provision of Input Tax Credit is being used for GST fraud.
The Finance Ministry and GST Council should consider removing the provision of ITC in the budget 2021-22 and announce new GST rates without input tax credit.
We would like to suggest GST rates w/o ITC:
a) 0% for exempted items
b) 5% for all goods & services
c) 15% for Luxury (Sin) goods
d) 15% for Petrol, Diesel & Liquor more
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