Eye Share: Upsurge in Fake Invoicing and Fraudulent ITC Availment - Is Govt. Taking Adequate Measures

Something went wrong with India’s ambitious indirect tax regime rolled out in July 2017 and the acronym GST landed with some witticism terming as “Good and Simple Tax” or “Gabbar Singh Tax”, as administratively it stood as a nightmare to control. However, for bogus firms this acronym turned out to be “Great Source of Treasury”.Author Shyama Kant Jha (Chartered Accountant) analyses the surge of bogus firms, fake invoices and fraudulent IT...