‘GST will curb tax evasion’
Under the new system, the government is going to give different rankings as per compliance to GST.
Pimpri: Central Excise Department officials and experts in taxation said that while introducing Goods and services Tax (GST), several efforts have been taken for plugging loopholes that allow tax evasion and hence, there will be lesser scope for dishonesty.
At the same time, GST has ensured that there will be no harassment of people who are paying tax honestly. All transactions will be online and therefore, people indulging in dishonesty will be sidelined automatically. Under the new system, the government is going to give different rankings as per compliance to GST.
Officials of the Central Excise Department and tax experts were speaking in a GST orientation workshop organised by SMP Group in Ramkrishna More Auditorium in Chinchwad on Friday. Joint Commissioner of VAT Anant Rakh, Deputy Commissioner of VAT Rajesh Advani and Superintendent of Central Excise Department DM Bakliwal spoke at the workshop.
Advani said, “There is unnecessary hype being created in the market that traders are supposed to file many returns throughout the year. In any way, they have to keep accounts of their sales and purchases. They need to upload the same data on given dates in the system. On the 10th of every month, traders are supposed to upload outward supply of taxable goods and services for the previous month. On the 15th of every month, traders have to pay inward supply of taxable goods or services and on the 20th of every month, traders have to file returns for GST.”
While introducing GST, the government has taken efforts to reward honest tax payers. But for people not paying taxes honestly, it is difficult as several measures have been taken to plug loopholes. Since there is provision for input tax credit (ITC) in the new system, traders will also prefer a supplier who is paying tax on the entire sale.