ஆரம்பம். GST நெளிவு, சுளிவுகள்...2


How multiple tax slabs provide smaller businesses a reason to invent a cash trail to dodge GST

Cash trails are more likely to emerge in the unorganised sector.

One trader revealed...
He said to save on GST, Person X will book a flat in the name of Y, who is his dummy. The instalments Y pays will actually be X’s money. When the last instalment is due, Y will notify the builder that he does not want to buy the flat, said the realtor. The builder will tell the regulating committee that Y has backed out, but he is fortunate to have a new purchaser in X.

The builder will refund Rs 80 lakh to Y, whose money it wasn’t anyway. X will then buy the now completed flat for Rs 1 crore and not pay GST, said the realtor....

And so on in other sectors and industry also....
Read more....Click here....

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