https://www.taxtmi.com/article/detailed?id=10357 A non-compliant GST invoice or 'fake invoice' is an invoice issued without actual supply or reflecting a non-compliant supply, used to generate or transfer inadmissible input tax credit (ITC), facilitate clandestine supplies, divert goods, or effect circular trading via shell entities. Tax invoice issuance by registered persons is mandatory at or before time of supply showing prescribed particulars; availment of ITC requires a proper invoice and receipt of goods/services, and misuse attracts recovery of ITC with interest, penalties, registration cancellation and criminal prosecution under the CGST framework. en-us Wed, 20 Apr 2022 15:25:26 +0530 Wed, 20 Apr 2022 15:25:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10357 A non-compliant GST invoice or 'fake invoice' is an invoice issued without actual supply or reflecting a non-compliant supply, used to generate or transfer inadmissible input tax credit (ITC), facilitate clandestine supplies, divert goods, or effect circular trading via shell entities. Tax invoice issuance by registered persons is mandatory at or before time of supply showing prescribed particulars; availment of ITC requires a proper invoice and receipt of goods/services, and misuse attracts recovery of ITC with interest, penalties, registration cancellation and criminal prosecution under the CGST framework. Articles Goods and Services Tax - GST Wed, 20 Apr 2022 15:25:26 +0530 https://www.taxtmi.com/article/detailed?id=10357