يحاولGOLD- Free

Complex compliance, multiple slabs are alien to GST
The Sunday Guardian|December 15, 2024
T OPINION echnology and innovative methods are not only being used to usher in transformative changes for society's good, but also being used by smugglers, who have developed slick methods to smuggle illicit items.
Complex compliance, multiple slabs are alien to GST

In recent years, India has seen a significant rise in the availability and use of narcotics.

Due to its strategic location, India has long been a hub for narcotics trafficking, and its extensive borders have made it challenging for enforcement agencies to apprehend those involved in illegal trade of psychotropic substances.

The Smuggling in India 2023-24 report by the Directorate of Revenue Intelligence (DRI) revealed that some of the latest techniques include concealing illegal items inside children's storybooks, wigs, shampoo bottles, and even lehengas.While the DRI has been doing a commendable job, the detrimental effects of the related phenomenon of an everburgeoning black market cannot be overstated. This illicit trade is undermining legitimate businesses, distorting competition, and significantly eating into tax revenues, running counter to the vision of 'Viksit Bharat 2047', not just funnelling money to organised crime, but also financing terror via money laundering.

The impact of this black market is far more profound in the case of industries which have historically been exposed to higher tax regime like tobacco. The World Customs Organisation (WCO) and PM Narendra Modi have both voiced concerns about the links between organised crime, the black economy, and terrorism.If we consider the proposed GST slab of 35% on some class of items, including traditionally high-tax products such as tobacco, aerated drinks, etc and the proposal to tax variably readymade textile goods, the menace of black marketing is expected to rise further.

هذه القصة مأخوذة من طبعة December 15, 2024 من The Sunday Guardian.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 15, 2024 من The Sunday Guardian.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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