Revolutionary Raja Ram for Tax & Economic Reforms

@abhishekrajaram

almost 3 years ago

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GST authorities set to crack down on fake invoicing issue - GST authorities plan to curb fake invoicing issue - Several measures have been devised, including a two-month special drive and identification of fraudulent GSTINs

- State and central GST officers discussed the strategy at a national co-ordination meeting on April 24 - Fake/non-genuine registrations are used to issue invoices without any supply of goods or services and pass on input tax credit fraudulently

- CBIC issued an instruction to address the problem Tax authorities are set to crack down on the menace of fake invoicing in the Goods and Services Tax regime and

have worked out a number of measures, including a two-month special drive, identification of fraudulent GST identification numbers as well as close coordination between state authorities.

The issue was discussed at length at the national co-ordination meeting of the state and central GST officers held at New Delhi on April 24 when a strategy was worked out.

โ€œThe issue of unscrupulous elements misusing the identity of other persons to obtain fake/bogus registration under GST, with an intention to defraud the government exchequer, was deliberated.

Such fake/non-genuine registrations are being used to fraudulently pass on input tax credit to unscrupulous recipients by issuing invoices

without any underlying supply of goods or services or both,โ€ said a recent instruction by the Central Board of Indirect Taxes and Customs (CBIC).

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