Eye Share: Provisional Attachment & Bail vis-à-vis Circular Trading under GST Regime

Circular Trading refers to issuing invoices in transactions among multiple companies (more specifically entities registered under GST) without the actual supply of goods. This is done with the intention to illicitly receive ITC as available in the GST regime. Author Advocate Vijay Shekhar Jha, adverts to Section 16(2) of the CGST ACT, 2017 which stipulates the conditions that need to be satisfied for claiming ITC under GST regime and explains that the concept of circular...