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Jayant Mundhra

 • 

Dexter Capital Advisors • 3m

Much credits to Piyush Goyal calling out Indian startups for chasing ‘fancy ice creams’ instead of deep tech at Startup Mahakumbh 2025, founders and business owners across India spilled the beans on rampant harassment and bribery for GST registration! Yet, here we are, days later, with zero investigations, no officials fired, and not a single soul held accountable under the Black Money Act. Bravo, India—corruption wins again! Let’s unpack this farce 🙏🙏 .. Many shared how GST officers rejected applications unless ‘settled’ with bribes - some demanding in-person visits just to extort money. Another founder from Burhanpur, employing 100 people, claimed paying Rs 30k a month in bribes to keep his business running. Social media erupted with similar tales of GST officials acting like mafia lords. This is probably the first instance in which so much has come out about the well-known corruption and bribery at municipal corporations and GST departments, all in a very short span, gaining widespread validation and traction. Yet, there has been complete silence on the action. .. The Black Money Act, 2015, imposes up to 10 years in jail and 90% tax penalties for undeclared income - perfect for nailing these bribe-taking officials. But forget that. Not one officer has been suspended. What did we get? Goyal announced a ‘grievance helpline’ on 4 April. Well, that’s good. But what’s the point of a helpline if the system protects its own? The GST department, called the ‘most corrupt’ by many is a cesspool. Officials delay registrations to extract ‘speed money’, making our already uncompetitive and hard-to-do-business-in economy even worse. And in that context, this inaction isn’t just negligence but complicity. .. Fire corrupt officers, enforce the Black Money Act, and show startups you mean business. Lectures are good. At least, I don’t have a problem with whatever Goyal said, given he was providing a tension and hurdle-free landscape for business builders and founders. But, let’s face it - Right now, that is a farce and a fantasy. And that should be the Govt’s priority, not lectures, however reasonable or not they may be.

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