Stopping ITC fraud with respect to items like steel melting scrap, which is not a consumer item rather pure industrial input for saving the bonafide manufacturing industry as well as increasing government revenue https://www.taxtmi.com/article/detailed?id=9727 The document explains that taxing melting scrap supplied by unorganised traders creates an economic incentive for fraudulent invoice chains and misuse of electronic input tax credit. It argues that exempting trader-supplied melting scrap from GST, or alternatively reducing the tax to a token rate, will eliminate the evadable tax pool, stop fraudulent credit injection, increase real cash tax receipts, and protect bona fide secondary steel manufacturers from undue enforcement actions. en-us Wed, 31 Mar 2021 01:23:07 +0530 Wed, 31 Mar 2021 01:23:07 +0530 TaxTMI RSS Generator Stopping ITC fraud with respect to items like steel melting scrap, which is not a consumer item rather pure industrial input for saving the bonafide manufacturing industry as well as increasing government revenue https://www.taxtmi.com/article/detailed?id=9727 The document explains that taxing melting scrap supplied by unorganised traders creates an economic incentive for fraudulent invoice chains and misuse of electronic input tax credit. It argues that exempting trader-supplied melting scrap from GST, or alternatively reducing the tax to a token rate, will eliminate the evadable tax pool, stop fraudulent credit injection, increase real cash tax receipts, and protect bona fide secondary steel manufacturers from undue enforcement actions. Articles Goods and Services Tax - GST Wed, 31 Mar 2021 01:23:07 +0530 https://www.taxtmi.com/article/detailed?id=9727