GST leading to hawala transactions: Amit Mitra

NEW DELHI: West Bengal Finance Minister Amit Mitra on Tuesday said the GST is leading to hawala transactions as businesses are claiming input tax credit and authorities are not matching those claims with invoices.

Stating that Goods and Services Tax (GST) was implemented in haste on July 1, 2017, Mitra said he had then opposed such hasty rollout as the computer systems were not prepared to deal with uploading of as many as 300 crore invoices.

“Today a short (returns) form is being filled and when you do not upload invoices, according to me, today hawala is happening out of GST. If invoice is not required to be uploaded, when you file GSTR-3B then you claim input tax credit (ITC), which is black money because there was no transaction. It was unprepared GST,” Mitra said at the ‘Agenda Aaj Tak (news channel)’ event here.

Under the GST regime, businesses currently file summary sales return GSTR-3B and final sales return GSTR-1. (AGENCIES)

LEAVE A REPLY

Please enter your comment!
Please enter your name here