Gold Silver Reports — Bring Gold Under GST — The friction is inevitable. Only high value jewellery purchases captured under the annual information returns that identify potential taxpayers by examining their expenditure patterns.
AIR creates an audit trail but there are no trails for cash purchases below `. 5 lakh. The best solution is for the government TO swiftly adopt the goods and services tax that creates audit trails to curb tax evasion. The jewellery trade will then stop complaining of harassment. — Neal Bhai Reports