Friends , this GST bashing by Surat textile traders ( pl see the language , its traders only) is false and misleading. Any guy like ashish sukhrawal mentioned here should be audited for last 5 years. Being a GST consultant ,I would like to clarify this subject so that PM should not be blamed for this fiasco at all. Pre GST era , textile when manufactured in the factory attracted a regular excise duty of 12% . Thus when Ashish was buying the thread or raw cloth and reselling from his 4X4 office in Surat there was no sales tax ie VAT on that deal. Now when he is buying same stuff from same factory , he is levied only 5% ( Haiin , then why is he not happy) So the catch was , majority of these surat dealers were actually doing trading of bills as there was no tax. Basically no goods were purchased and no goods were sold but fake bills were generated. What will ashish like guy do with this?? Yes , these all gujarati traders were selling these non existent products to Indian factories at .75 to .85 % as transaction charge. ( So waht big deal). This fake trade was more than 1,00 000 crore and a real margin of 8500 crore for these type of guys. Now a Company in Delhi who is a manufacturing co of real cloth with a TO of 70 Crore and EBIDTA of 6 crores, buys these fake bills for 300 crores and sell the non existing products for 330 Crore ( all fake bills courtesy CAs of Inda) can show an audited TO of Rs 400 Cr and get a loan from banks upto 350 cr. These led to NPAs now stopped.
Re: The GST proposal
by RAJ on Jul 09, 2018 10:53 AM
Piri my small old child pl read my message as written above. I told you that ur little uncle knows many things more than u and I never bash PM or ant political party . Use your sense and dont throttle ur tongue on un known topics. We are not fools who scored more than 90% and are managing positions as Leaders. Jai Hind , but I hate people like you showing SPITR syndrome symptoms.
Everyone needs to pay tax. That is the message here. Why should only a few percentage employed people and few corporations have to pay tax and shoulder the country. Isn't it the responsibility of everyone to pay tax. For very long people who claim to earn less or find some loop holes to pay taxes still enjoyed less taxed consumer items. This GST caught them on both ends. These people expected "All Talk and no Action" from the govt. But this is a govt that does what is good for the country. Its people are very flexible and they will fall in line and raise again. The 100,000 looms that got sold to scrap, seems like an exaggerated number.. But even if they did close , it is probably because they were s!ck to begin with. You cannot claim you d!ed because of water after drinking po!son.
Re: Donxkey in a
by Amlan Chakravorty on Jul 03, 2018 02:20 PM
India was one of the few developed economies without GST. Even nations in Africa had implemented GST before us. So you cant say that by not allowing you to evade taxes the Government has killed your business, and who so ever has given this report that Surat and Specially Ring Road in Surat is in the doldrums should come to experience it at about 11 am and 8 pm when the rush hour would beat even Mumbai traffic.
Re: Donxkey in a
by Amlan Chakravorty on Jul 03, 2018 02:20 PM
India was one of the few developed economies without GST. Even nations in Africa had implemented GST before us. So you cant say that by not allowing you to evade taxes the Government has killed your business, and who so ever has given this report that Surat and Specially Ring Road in Surat is in the doldrums should come to experience it at about 11 am and 8 pm when the rush hour would beat even Mumbai traffic.
Re: Donxkey in a
by Amlan Chakravorty on Jul 03, 2018 02:20 PM
India was one of the few developed economies without GST. Even nations in Africa had implemented GST before us. So you cant say that by not allowing you to evade taxes the Government has killed your business, and who so ever has given this report that Surat and Specially Ring Road in Surat is in the doldrums should come to experience it at about 11 am and 8 pm when the rush hour would beat even Mumbai traffic.
Re: Donxkey in a
by Amlan Chakravorty on Jul 03, 2018 02:21 PM
India was one of the few developed economies without GST. Even nations in Africa had implemented GST before us. So you cant say that by not allowing you to evade taxes the Government has killed your business, and who so ever has given this report that Surat and Specially Ring Road in Surat is in the doldrums should come to experience it at about 11 am and 8 pm when the rush hour would beat even Mumbai traffic.
Re: Donxkey in a
by Amlan Chakravorty on Jul 03, 2018 02:21 PM
India was one of the few developed economies without GST. Even nations in Africa had implemented GST before us. So you cant say that by not allowing you to evade taxes the Government has killed your business, and who so ever has given this report that Surat and Specially Ring Road in Surat is in the doldrums should come to experience it at about 11 am and 8 pm when the rush hour would beat even Mumbai traffic.
