Quick Summary
The Central Board of Indirect Taxes Customs (CBIC) has booked over 8,200 cases involving revenue of over ₹62,000 crore since inception of GST till date. This was the key reason for not changing the threshold related with decriminalisation of offences for fake invoices. It needs to be noted that there is no term such as fake invoice in GST law. The GST council on Saturday recommended the raising of minimum threshold of tax amount for launching prosecution under GST to ₹2 crore from ₹1 cror
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 011-411-70713
FAQ :
The CBIC has detected over £62,000 crore in GST evasion through fake invoices across more than 8,200 cases since the inception of GST.
The GST Council has recommended raising the minimum tax amount for launching prosecution for most GST offences to £2 crore, up from £1 crore.
No, the offence of issuing invoices without the supply of goods or services, or both, will not be subject to the increased prosecution threshold.
A person issuing a tax invoice without any underlying supply of goods or services is liable for penal action.
If a business obtains a fake invoice without supply and claims ITC, they could be liable for demand and recovery of that ITC, along with penalties and interest.
A total of 1,030 individuals have been arrested in connection with the over 8,200 fake invoice cases detected by the CBIC.
CAclubindia
