https://www.taxtmi.com/article/detailed?id=11414 A special nationwide drive will target suspicious GSTINs identified by data analytics to detect fictitious registrations and fraudulent availing or transfer of Input Tax Credit. Authorities may suspend or cancel registrations, impose penalties for invoicing without actual supply, attach bank accounts, initiate recovery for wrongly availed ITC, block recipient ITC ledgers where fraud is reasonably believed, and pursue criminal arrest where statutory thresholds are met. Suppliers and recipients must maintain books, cooperate with investigations, may obtain copies of seized documents within thirty days, and recipients must reverse ITC on discovery of fraudulent vendors. en-us Thu, 18 May 2023 11:03:09 +0530 Thu, 18 May 2023 11:03:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11414 A special nationwide drive will target suspicious GSTINs identified by data analytics to detect fictitious registrations and fraudulent availing or transfer of Input Tax Credit. Authorities may suspend or cancel registrations, impose penalties for invoicing without actual supply, attach bank accounts, initiate recovery for wrongly availed ITC, block recipient ITC ledgers where fraud is reasonably believed, and pursue criminal arrest where statutory thresholds are met. Suppliers and recipients must maintain books, cooperate with investigations, may obtain copies of seized documents within thirty days, and recipients must reverse ITC on discovery of fraudulent vendors. Articles Goods and Services Tax - GST Thu, 18 May 2023 11:03:09 +0530 https://www.taxtmi.com/article/detailed?id=11414