A spate of recent frauds has taken the sheen off India’s new tax regime - Quartz

[FraudNews]

A spate of recent frauds has taken the sheen off India’s new tax regime (https://qz.com/india/1634102/fraud-by-indias-manpasand-beverages-exposes-loopholes-in-gst/) QuartzIndia’s goods and services tax (GST) may not be as “good and simple” as it was purported to be. A spate of frauds discovered recently has turned the spotlight on how businesses are exploiting the loopholes in the two-year-old taxation system. The latest episode was reported last month when the top management of fruit juice maker Manpasand Beverages (MBL) was arrested for an alleged fraud of Rs40 crore ($5.8 million). The alleged crime On May 23, Abhishek Singh, managing director of MBL, his brother Harshvardhan Singh, and chief financial officer, Paresh Thakkar, were arrested following a ra...


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