Page 3 - Gst Invoices

Covid-19 is likely to be a litmus test for GST Council, say experts

Experts for staggered payments, liberal input tax credit norms, and expediting e-invoicing

Fake invoicing racket worth Rs 7,896 cr busted; accused use 23 shell firms

This was done by a network of 23 shell companies. Two people were arrested for the same on February 29

Delhi GST unit unearths racket involving fake invoices; two arrested

The accused were found to be operating 42 fake firms created to facilitate fraudulent Input Tax Credit (ITC), thus defrauding the exchequer

Universal invoice matching is absurd

The CAG has said that invoice matching has made the system prone to input tax credit fraud

GST Intelligence unit busts Rs 100-crore fake invoice racket in Gujarat

Acting on specific intelligence regarding fraudulent availment and utilisation of ITC under GST regime, officials conducted simultaneous searches at 14 different business and factory premises

Ahmedabad CGST officials bust fake GST invoice racket worth Rs 175 crore

CGST Ahmedabad-South Commissionerate officials also arrested a 38-year-old city-based businessman for issuing bogus invoices worth Rs 175 crore for availing ITC worth Rs 32 crore fraudulently

Taxman plans to match GST invoices to plug revenue leakage

Move in response to falling GST revenue collections

Businesses can upload sale, purchase invoices on GSTN portal from July 24

Last month, GSTN had launched an offline Excel format for businesses to keep their invoice records