Remedy for GST Frauds
ITC claimed is 400% of GST collected. It is high time that provision of ITC is abolished by amending CGST Act and notifying rational GST RATES without ITC FOR ALL GOODS AND SERVICES.
Suggested GST rates without ITC:
a) 5% for all Goods & Services other than exempted items.
b) 10% for packaged & branded goods
c) 15% for Luxury/Sin goods
All business entities including shops should register under GST and exemption limit of Rs.20Lakh turnover should be removed.