GST: Dramatic decline in VAT-era tax evasion

    An analysis conducted by three states — West Bengal, Madhya Pradesh and Maharashtra — suggests that taxpayers may have under-reported value of goods entering these states by nearly Rs 2.6 lakh crore during July 2017 to March 2018. Government officials and tax experts, however, point out that a large part of this is likely to be the amount of tax evasion — in the pre-goods and services tax (GST) or VAT era — that has, in fact, been stopped by the implementation of GST. Read more...

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