Law Panel of GST Council Decided to Handle Fake Invoice Issue

The GST council based law panel has decided to mutually come up with the options to handle the fake invoice issue and will be making a final decision on it.

While the panel consists of bigger members it also has an extensive team of around 10 members from each state and centre and 2 members from the GST Council meeting Get to know about GST (Goods and Services Tax) council 1st to 42th meeting updates and decisions taken by members. We have covered 1st meeting to last meeting decisions while 1 from GSTN authorities.

The Senior Finance Ministry committee said that they will take some of the best measures to curb the fake invoice as the finance ministry has recently taken cognizance of fake registration also. They further added that the GST registration process will be made much secure.

As per the officers, “The businesses, whose owners or promoters do not have a commensurate financial track record like filing of income tax returns and payment of income tax to the Government, may require detailed physical and financial verification by tax officers before their companies can be considered for GST registration”.

A full-fledged data analytical research has been conducted in the previous month and therefore it can be suggested that a lot of fake invoices and transactions have been recorded.

Dozens of people have nabbed in this issue and the meeting will cover all the fake invoice issues The Delhi Government released the Delhi Goods and Services Tax (Amendment) Act, 2020, for the purpose of making amendments in the Delhi Goods and Services Tax. read more just in time when the Indian economy is surging past many nations.