False ITC claims under GST system is cause of worry
It refers to GST officers arresting a lawyer in East delhi having opened fake firms for claiming false Input-Tax-Credit (ITC) to tune of rupees 50.3 crores under Goods and Service Tax (GST) making total such arrests to 27 in Delhi Zone with total false ITC claim of rupees 4019.95 crores detected in Delhi zone alone. Actual false ITC claims must be multiple times the detected amount because only a little fraction of actual tax-evasion is brought to notice of authorities. Nation-wide such false ITC claims detected or undetected must be of very high amount.
There have been 950 amendments so far in GST system with traders all over the country having protested against some recent amendments on 26.02.2021. System should be so simplified and user-friendly in a manner that false ITC claims may ...




