Quick Summary
Punjab is emerging as a state with one of the highest tax evasion rates in India, with authorities apprehending numerous criminals involved in bogus billing worth billions of dollars daily. Besides bogus billing, bill swapping is rampant, where traders sell their bills to other parties instead of gi
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FAQ :
The main tax evasion issues in Punjab are bogus billing and bill swapping, where traders sell their bills to others instead of providing them to customers.
The Federation of Punjab Small Industries Associations (FOPSIA) has been actively campaigning against bogus billing.
The state government has formed a high-level investigation committee to address the tax evasion report and is taking action by cancelling registrations of identified bogus companies.
Key reasons identified include a lack of staff in the GST department and the CBIC providing registration numbers without proper verification.
The Union Government is implementing a biometric system, and the Taxation Commissionerate is cancelling registrations of bogus companies.
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