The Economic Times News

GST leaks need plugging as fake invoices surge and exporters face liquidity strain

India's Goods and Services Tax system shows strong growth but struggles with fake invoice fraud, especially in the scrap sector. This practice allows tax evasion and distorts competition. Exporters also face delays in receiving refunds, impacting their cash flow. Policy changes, including lower GST on scrap and streamlined refund processes, are proposed to address these issues and boost business confidence.