Some Traders evading gst
I agree with the other post. Traders have a strike today against GST.
Many traders basically are still selling supplies in cash and then sell the bill later to some other entity for a price.
So they take ITC from big supplier, cash buy from small supplier. Sell in cash. For the amount purchased from big supplier in white they sell the bill for those goods to parties who need to show a bill.
The whole thing runs rampant. Ask GST consultants more
Many traders basically are still selling supplies in cash and then sell the bill later to some other entity for a price.
So they take ITC from big supplier, cash buy from small supplier. Sell in cash. For the amount purchased from big supplier in white they sell the bill for those goods to parties who need to show a bill.
The whole thing runs rampant. Ask GST consultants more
Viewed by 365
How very true ! Shops continue to offer sales with and without GST. It's a shame that they continue to do this so openly. The other day, in a fish shop, the man demanded "cash only" and that too after the fish was cut and prepared. As a matter of principle I refused to pay in cash and asked the man to put a big signboard on the door CASH ONLY......and to wait for how soon some inspector would come and question them about it. Funny is that earlier they were accepting card payments......for years and years, as I can recall. more
Feb 27
Our country is not ready yet - enforcement, maturity at all levels, ... for the complex GST system. It will be best to have a simple taxation system for now ... more
Feb 27
I know of many shops that always take cash and do not give pukka bill unless people specifically ask for it; otherwise they usually give so called receipt on a rubber stamped paper. Many shops do not give bills saying they are composite GST payers! And they deal in cash only. more
Feb 26
Even after demonetization and introduction of GST, you can see enormous amounts of transactions going on in Richie Street and environs in Mount Road and in most streets of Parrys corner in Chennai. They do strictly only cash sales and no receipts are issued. This will run into hundreds of crores in one day. Just in 2 areas in one city of India. Imagine how much unaccounted money is generated in our country. more
Feb 26
In case of last point sales, when goods are sold to final consumer who does not have GST number, such type of practices will go on. It will never stop. The main issue is GST evasion at first level or originating level. The main problem is our CBIC and fraudsters are partners and all these frauds are carried on in joint venture. Some time terms and conditions fail or new venturer enters and every thing is exposed. more
Feb 26
