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AITF survey revealed, theft of 12 thousand crores in GST in Punjab, write a letter to PM demanding CBI inquiry

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AITF survey revealed, theft of 12 thousand crores in GST in Punjab, write a letter to PM demanding CBI inquiry

AITF survey revealed

AITF survey revealed, theft of 12 thousand crores in GST in Punjab, write a letter to PM demanding CBI inquiry

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The survey by All Industries and Trade Forum (AITF) has revealed that each year in Punjab, GST worth twelve thousand crores is being stolen through bogus billing. AITF President Baddish Jindal has written a letter to Prime Minister Narendra Modi demanding that the GST theft should be investigated by the CBI.

In the letter, Jindal said that the GST collection fell significantly during the Corona period. The central and state governments are making efforts to extend this, while on the opposite hand, the theft of GST is additionally a significant issue. It’s important to tighten it. For this, a radical investigation should be done to show those involved in bogus billing. Jindal said that it’s become clear within the study that the gathering of tax is coming down. It’s clear that the movement of products on unbilled goods and bills at lower prices is being done indiscriminately.

Jindal said that Maharashtra features a GST collection of 6.9 percent of the state’s GDP. Which are 4.82 percent in Karnataka, 6.61 percent in Haryana, and 5.74 percent the national average. While in Punjab the GST collection of the state’s GDP of 5.74 lakh crores is 15500 crores, which is simply 2.69 crores of GDP. This shows that GST collection in Punjab is far less than the national average and other states.

He said agriculture accounted for 25 percent of the entire GDP of the state. Albeit the GDP collection is increased by 25 percent, it’s still but the national average. consistent with the president, Punjab has taken 13 percent GST compensation within the year 2018-19, 11 percent within the year 2019-20, while the national average was 2 percent within the year 2018-19 and three percent within the year 2019-20. It’s clear that Punjab is taking more compensation than the national average.

Jindal said that the state produced 2.7 million tonnes of steel, while 2.9 million tonnes of steel were consumed within the state. At an equivalent time, the typical GST collection from this sector should be 3500 crores, while it’s quite low. Jindal said that evasion is being done only with the connivance of department officials. Jindal said that the bogus billing network within the state are often scrapped if a radical investigation is completed into the matter.

 

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Anurag Srivastva
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