how can GST reduce tax evasion
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The Goods and Services Tax (GST) is seen as a tax reform that will increase collections by broadening the database of tax payers. Tax evasion is the biggest roadblock to India’s development. From a local grocer to cloth shop, everyone tries to evade taxes by not maintaining the real entry of transactions. The tax component in India is mainly borne by the salaried class in the form of direct tax. Indirect taxes have been evaded till date.
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GST officers are working on a system where businesses above a certain turnover threshold will have to generate 'e-invoice' on government or GST portal for every sale, thereby effectively reducing the room for tax evasion.
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