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CAG flags deficiencies in functioning of GST

The return mechanism's complexity and technical glitches resulted in rolling back of invoice matching, rendering the system prone to ITC fraud

GST
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TNC Rajagopalan
The recent report of the Union comptroller and auditor general (CAG) on the goods and services tax (GST) does praise its rollout as a landmark achievement. And, points at several deficiencies in its implementation. 

GST, it says, was rolled out with the objective of reducing the cascading of tax, ushering in a common market for goods and services, and bringing in a simplified, self-regulating and non-intrusive compliance regime. It appreciates that multiple central and state taxes, barring a few goods/sectors, have been unified, Input Tax Credit (ITC) is available across the entire value chain.

In two years, a multiplicity of
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

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