Government’s big decision to stop GST theft, cancellation of GST registration of more than 11 lakh people!

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The government is going to take several steps to stop GST theft. Under this, the government has decided to take a decisive step. The government can cancel more than 11 lakh GST registrations which have not filled GST Return 6 times or more than 6 times. In fact, the GST thieves have chosen the government for about 10-12 thousand crores. Therefore, the government does not want to leave any loophole.

Claims of GST being foolproof due to modus operandi VAT and excise regime like claiming credit without supply are also being questioned. It is also feared that the cases being caught are only 10-15% of the actual fraud. Fake billing was done through GST registration, fake invoicing was done through which input tax credit was obtained. The government fears that similar items are being supplied without bills in many ways. In this way, GST thieves are trying to elect the government. Therefore, the government is going to cancel those GST registrations which are not being used to fill returns.

Read More at: https://hindi.news18.com/news/business/gst-fraud-bogus-billing-cases-increases-modi-government-cancel-gst-registration-of-more-than-11-lakh-owners-2644630.html

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