Misusing various loopholes in the law and absence of an effective and regimented reconciliation process, several taxpayers have resorted to such practice
The events of fake invoicing have been proliferating which has called for a nation-wide drive to catch the culprits
The data auto-populated from GSTR-2A from GSTR-1 of the supplier, should be reconciled with the data of supplies with the receiver
After 3.5 years of introducing GST with a ‘one nation one tax’ approach, India has made headway with its implementation despite certain stumbling blocks, which have become a recurring part of its journey.
By bringing phased introduction of provisions and frequent modifications in the system, both the prior unpreparedness and present commitment of the government becomes apparent. Calling attention to the latter, a large part of it is owed to curbing the menace of fake invoicing, which has stirred up a hornet’s nest in the system.
Fake Invoicing
Misusing various loopholes in the law and…
