https://www.taxtmi.com/article/detailed?id=9984 Self-assessment under GST allows taxpayers to determine tax liability, but can be abused through fake invoices created by fictitious suppliers to claim inadmissible Input Tax Credit (ITC). Such schemes involve bogus firms, false invoices without actual supply, non-filing by issuers, and onward utilisation of fraudulent ITC. Statutory and administrative responses include strengthened registration verification, restrictions on ITC availment and utilisation, e-invoicing, analytical detection (input-output ratio and cross-matching), and information sharing; claimants bear the burden of proof and should retain contemporaneous evidence to substantiate genuine supplies. en-us Mon, 06 Sep 2021 11:46:15 +0530 Mon, 06 Sep 2021 11:46:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9984 Self-assessment under GST allows taxpayers to determine tax liability, but can be abused through fake invoices created by fictitious suppliers to claim inadmissible Input Tax Credit (ITC). Such schemes involve bogus firms, false invoices without actual supply, non-filing by issuers, and onward utilisation of fraudulent ITC. Statutory and administrative responses include strengthened registration verification, restrictions on ITC availment and utilisation, e-invoicing, analytical detection (input-output ratio and cross-matching), and information sharing; claimants bear the burden of proof and should retain contemporaneous evidence to substantiate genuine supplies. Articles Goods and Services Tax - GST Mon, 06 Sep 2021 11:46:15 +0530 https://www.taxtmi.com/article/detailed?id=9984