The director general of goods and services tax intelligence has detected around 8,000 cases of fraudulent input tax credit claims and is issuing notices to the involved entities. The majority of these cases included fake suppliers with GST registrations and fake invoices. The GST authorities have carried out a two-month crackdown on companies involved in the supply of fake bills and invoices to avail credit and have started the second phase to target entities that availed fake invoices.
from Banking/Finance-Industry-Economic Times https://ift.tt/pPQDHuk
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