Fraudulent input tax credit: recipients liable for recovery and penal action; issuers liable under invoice-issuance penalties. Issuing a tax invoice without underlying supply does not amount to supply under section 7 and therefore attracts no tax demand under sections 73 or 74 against the issuer, but the issuer is liable to penal action under section 122(1)(ii). A recipient who fraudulently avails and utilizes ITC without receipt of goods or services is liable for demand and recovery of the ITC and penal action under section 74 with interest under section 50; subsequent passing-on of ITC without supply attracts penal consequences for the passer-on under section 122 provisions.