Sethurathnam Ravi Supports Raising GST Evasion Threshold to Rs 3 Crore
In an effort to streamline business operations and reduce harassment, the Centre is considering raising the GST evasion arrest threshold from Rs 2 crore to Rs 3 crore. Former BSE Chairman Sethurathnam Ravi , along with industry experts, delved into the potential impacts of this proposed change during a recent discussion. Sethurathnam Ravi began by highlighting that the industry has been advocating for such reforms to alleviate the fear of arrest and other punitive measures. This demand has been consistently conveyed to the finance ministry. He acknowledged that while the proposed increase from Rs 2 crore to Rs 3 crore is modest, it reflects the government's cautious approach. "The government faces a dichotomy," Sethurathnam Ravi explained. "If they raise the threshold too much, it could lead to issues with fraudulent tax invoices, which have been a significant problem. They are trying to balance supporting honest taxpayers while curbing fraudulent activities." ...