CAG: Govt. did not try out GST system before rollout; Leading to lower tax revenues

“Even after two years of rollout of GST, system validated Input Tax Credit through ‘invoice matching’ is not in place and non-intrusive e-tax system still remains elusive.
Without invoice matching and auto generation of refunds, assessments, etc. on the whole, the envisaged GST tax compliance system is non-functional.” says CAG report.

The growth of indirect taxes of Government of India has slowed down to 5.8% in 2017-18 over 2016-17 as compared to 21.33% during 2016-17, with GoI’s revenue from goods and services taking a 10% dip (via).

 

NextBigWhat brings you curated insights and wisdom on product and growth from the wild web.

Over 2 million people receive our weekly curated insights.

Newsletter

Newsletter