Ludhiana: wrapped the problems faced by them in the hands of the tax authority because fake bills with organized gangs, the delegation of leading entrepreneurs met Minister of Finance Manpreet Singh Night.
Employers will accuse that because false billing cases increase in the city, input tax credit (ITC) from the original businessman is blocked or reversed by GST authorities.
The meeting was regulated by the Cabinet Minister Bharat Bhushan Ashu which was declared by the businessman.
During the meeting, Badal assured employers to take their concerns with the GST Board.
Dev Gupta, Vice President of the Induction Induction Association, said, “Original Entrepreneurs, especially those in the business of rolling furnaces and steel, facing problems because fake bills with organized syndicates.
Often credit GST or ITC from the original company about purchasing raw materials, such as memos, Blocked or reversed by the GST authority because of suspicious or false transactions carried out by fraudsters who are in the supply chain of two or three.
These fraudsters, who often make companies in fictitious details or steal, successfully avoid the authorities, but the department punishes people like us At the end of the supply chain and have made original transactions.
“Date, tens, dozens, dozens, original companies have suffered because frauds carried out by others and returning our GST money worth some crores have been blocked, rejected or even upside down.
We have given the Badal Minister of Finance from all problems and asked him to urge the GST council to communicate it to a higher party.
Badal has convinced us that he will pursue this problem with the GST Board and try our best to solve it.
“KK Garg, president of the North Induction Furnace Association,” One of the main reasons why fake Bogus bills are so often by fraudsters is a high level of 18% GST on it.
If the tariff is cut on sales of the memo, it will definitely block the tax avoidance.
Therefore, we have asked the Minister of Finance to convince the GST Council to reduce the GST level on the memo of 5% earliest.
“Harish Two, President of the Knitwear and Clothing exporter organization,” Bogus Billing has become very serious.
Problems and that’s why the department does the best to install it.
But more steps are needed to issue a permanent solution because this malpractice hurts the original entrepreneur.
We hope the GST council will respond positively our advice sent through the Minister of Finance Punjab.
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