Solutions for Reducing Bogus Billing in GST In Metals Scrap
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During the last 6 Months Various Scam Of Bogus Billing and Fruad Credit of GST had been found out in India. Majority of them are in Metals Scrap Businesss.
The Main Reason for it is that GST on Metals Scrap is 18% and it Business is in high volume. So Unethical People easily use it for Generating huge money by fraud.
When such frauds are found , the Main Culprits who had earned Crores of Rupees Surrenders and then other Genuine People who had bought Goods Suffer.
If GST on Metals Scrap is reduced from 18% to 5% , then the incentive for doing such frauds will be minimised and it will save Genuine Businessman.
Also our request is to Reduce GST on Metals Scrap and not Finished Goods which is at 12/18/28%.
All Metals Scrap is going to be converted into Finished Goods on which Govt will earn full Revenue .
Infact it will increase effective net revenues GST from Metal Recycling Business because of Reduction of Frauds in Same .
Pls Support us in reaching this voice to our Respected PM Shri Modiji .This will facilitate Ease of doing Business in India.
Hon . Secretary
All Ind Non Ferrous Metal Association (ANMA)
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