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Srinagar, Oct 03: The recent Goods and Services Tax (GST) reforms aimed at easing compliance and lowering costs on essential commodities have been widely welcomed across industries and consumer groups. However, concerns are mounting over tax evasion practices in key sectors such as cement and automobiles, potentially undermining the benefits of the reforms.

The reforms announced last month include rate cuts on essential goods and the simplification of return filing procedures.

While the overall response to the reforms has been positive, industry insiders and tax experts here have raised concerns over the alleged misuse of the Input Tax Credit (ITC) mechanism by certain players in different industries.

According to sources, some manufacturers may be underreporting their pro

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