December 10, 2016

Black Money Rhetoric And Anti-Profiteering Action

Visiting Senior Fellow, Praveen Chakravarty writes in BloombergQuint about how GST and its regulatory council may or rather may not be able to curb business profits. He also opines that GST may just be a black money redux. Excerpt below:


"It is ironic that this proposal for a new authority in the Model GST Law comes at a time when there is a rallying war cry against ‘black money’ in the country. It is not hard to imagine how officers of this new authority can raise arbitrary objections to what they deem is a ‘fair’ price of a certain good or service after a GST reduction, and threaten to levy penalties which can then be amicably settled with the taxpayer through a payoff."


Read the entire article here.


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Topic : Transitions / In : OP-EDS
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