Business Standard

Monday, December 23, 2024 | 11:50 AM ISTEN Hindi

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A taxing problem

The taxman has too much power in GST

GST
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Business Standard Editorial Comment
The Union Budget is around the corner, and concerns related to the goods and services tax (GST) will be playing on the mind of both policymakers and investors. The GST has under-performed relative to expectations, and some in government have placed the blame on widespread evasion. In particular, there is concern that input tax credit facilities are being misused following the incorrect issue of invoices in the absence of the actual supply or movement of goods and services. This, under the current GST Act, is an offence, and GST commissioners have been provided with powers of arrest under these cases.

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