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CAG lessons for GST
A study by the Comptroller and Auditor General of India (CAG) has brought out startling details of the manner in which several states are operating the value-added tax (VAT) system. Over half of the hundred thousand dealers covered under the CAG audit in 23 states were engaged in tax evasion.
2010-07-28 20:33:22

CAG cautions govt on 'teething problems' in GST
The much-touted VAT, considered as the precursor to the proposed goods and services tax (GST), resulted in a loss of revenue for 10 states, and many manufacturers did not pass benefits arising out of low taxes to customers, the country's apex auditor the Comptroller and Auditor General of India (CAG) said today.
2010-07-26 20:54:06

Varying VAT platforms may hit GST rollout: CAG
NEW DELHI: The country�s supreme audit body has questioned the preparedness of states to roll out the goods and services tax (GST), amid hectic parleys to build a consensus on the implementation of this crucial indirect tax reform from the next fiscal year
2010-07-26 20:46:56

3 states lose Rs 6,400 cr on poor VAT execution
Distortions in the implementation of value added tax (VAT), deficiencies in planning and loopholes in VAT Acts and rules across various states have cost the exchequer heavily since the introduction of the tax. Owing to deviations from the rules and continuation of existing incentive schemes post-VAT, the exchequer suffered a loss of Rs 6,400 crore between 2005-09 in three states including Gujarat, with the Reliance Group of Companies accounting for more than 90 per cent of it, apex accounting body, the Comptroller and Auditor General (CAG) of India, has said in its report on the implementation of VAT in states.
2010-07-26 20:46:28

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