A fake GST bill is generated by scammers to dupe businessmen and customers, even without any actual supply of goods or services or GST payment. It is basically generated for various fraudulent reasons ...

Explains the legal situations where suppliers can correct excess GST through credit notes. Highlights that reduction in tax liability is conditional on timelines, ITC reversal, and absence of unjust ...

Fake GST Bill: For some time now, GST officials have been trying to stop GST fraud. According to the GST Council, most of the GST fraud in the country are done through fake invoice bills. Goods and ...

Gradual reduction in the annual turnover threshold for mandatory e-invoicing for business-to-business supplies may help large firms fully claim their input tax credit (ITC), which often gets stuck due ...

The Goods and Services Tax (GST) software is the front-end IT infrastructure for Indian businesses under the tax system to file their returns, upload invoices, create challans for making payments, and ...

Businesses must show prices inclusive of GST on all price displays to the public. Hotels and food & beverage establishments that impose a service charge on their goods and services are exempted but ...

According to an official, better credit flow to MSMEs is crucial as they are the backbone of the Indian economy as it is one of the major contributors of India’s gross domestic product (GDP). The ...

GST: Govt has cracked the whip against tax evasion under the GST. GST: The Union government has booked nearly 1,800 cases for issuing fake GST invoices since 2017-18. The highest number of cases have ...

MUMBAI: The officers of the Thane Central Goods and Service Tax (CGST) Commissionerate, under the CGST Mumbai Zone, busted a fake GST invoice racket involving fraudulent transactions worth ₹140 crore ...