A spate of recent frauds has taken the sheen off India’s new tax regime

India’s goods and services tax (GST) may not be as “good and simple” as it was purported to be. A spate of frauds discovered recently has turned the spotlight on how businesses are exploiting the loopholes in the two-year-old taxation system. The latest episode was reported last month when the top management of fruit juice maker Manpasand Beverages (MBL) was arrested for an alleged  fraud of…