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GST Disruption
There is a strong case for GST reduction on two-wheelers up to 125 cc as these cater to non-sin goods but mobility option for masses in the country, Hero MotoCorp CEO Niranjan Gupta said on Wednesday. The government should also continue on the path for long-term growth, stability and investments, he added. He was answering to a query regarding wishlist for the upcoming Union Budget. "Honestly, GST is not the subject of the Union budget. But having said that, I would say there's a strong case for GST to move down from 28 to 18 per cent especially for two-wheelers, up to 125 cc, because they are meant as vehicles for masses," Gupta said. They are not sin or luxury goods but provide mobility to masses in India, he added. "The entry-level two-wheelers help generate lot of direct indirect employment. So whichever way you look at it, there is a strong case for at least two-wheelers, up to 125 cc to move down to 18 per cent GST," Gupta noted. Besides, the government should continue on t
GST officers are using data analytics to ascertain if the entire supply chain in a particular sector is paying adequate GST or if there is a missing link, an official said. With GST evasion of over Rs 1 lakh crore detected in the last fiscal ended March 31, the Directorate General of GST Intelligence (DGGI) has stepped up efforts to catch evasion at the initial stage itself so that compliance improves. "We are using 'end-to-end' analytics for a sector and 'gap analysis' of the taxes paid in a supply chain to ascertain if the entire value chain is paying adequate GST or if there is a missing link," the official told PTI. The data analysis includes comparisons of the tax payment profile of a particular sector vis a vis the erstwhile excise and service tax regime. "Now that GST system has stabilised, the effort is to further streamline it. We want to ascertain if all the sectors which are covered under GST are paying their due share of taxes," an official said. After the analysis, if