NEWS UPDATE
Right to Sleep - A Legal lullaby Nexus between Election Manifesto and Budget 2024 in July! GST Penalty of Rs. 3731 Crores on an employee! TIOL Fiscal Awards: Maastricht is dead & gone! What next? When the Stars Aligned: An Evening at the TIOL Awards Kudos for Digitalisation vs Pillories for e-waste! Import of Obscene goods - Who decides obscenity - Customs? EV Revolution: Lessons for India to learn from US and China! Massager or sex toy? One Nation, Many Elections: Time to repair the feet of clay! Too Many Sleuths Spoil the GST Soup WTO needs active aid-in-dying! China favours alternative trade architecture! GST in Income tax The Rhetoric of Illusory Decoupling of American Economy from Chinese! Where is that GST Appellate Tribunal? Trump's return to Oval Office! China sweating like just out of heated hammam! Cached Cash and GST America to quit NATO! A case of more theatre than threat! Aha, Trumpian in flavour! Doctrine of Proportionality Global Trade: Ruptured geopolitical order letting Red Sea turn 'Redder'! Templated Show Cause Notice - GST Ishtyle Interim Budget 2024: Quo Vadis, Indian Economy? Personal Hearing - By Law, Not Discretion Interim Budget 2024: Will FM really play fiscal 'Santa Claus' today! Sweet Beginning - Halwa Served - Budget Interim US Presidential Election: 'Tariff Man' is coming! Take cover! Summons - power of pen more effective than the presence of an officer in court Mamma mia! Nationalism-tinged AI may derail 'Re-globalisation'! PM visits GST Academy Din over DIN: What is FOMO for CBIC is actually JOMO for CBDT! Arrest under PMLA

Print

GST - Menace of fake invoices is back, says CBIC Member

Published: Jun 29, 2018

By TIOL News Service

NEW DELHI, JUNE 29, 2018: ADDRESSING a gathering at an ASSOCHAM event, the CBIC Member, Mr John Joseph, on Wednesday said that the menace of fake invoices are back even in the GST regime. An analysis of intelligence tips received from various sources by the DGGSTI, has revealed that some entities are only into the business of generating fake invoices and ITC is being claimed on them. Worse, some exporters, without exporting goods, have claimed IGST refund based on such invoices.

A further data-mining has indicated that one per cent of total 1.11 Crore GST assessees account for over 80% of the GST revenue. A large number of Composition Dealers have returned their quarterly turnovers in the range of Rs 5 lakhs. The DGGSI sleuths are busy with such intelligence and investigations have so far led to detection of tax evasion of over Rs 2000 Crore.

TIOL SEARCH


A Taxindiaonline Website. Copyright @ 2021 TIOL Pvt.Ltd. All rights reserved.