https://www.taxtmi.com/circulars?id=66523 Issuance of tax invoices without actual supply does not constitute a supply and therefore does not give rise to tax demand against the issuer, but the issuer is liable to penal action for issuing invoices without supply. A recipient who fraudulently avails and utilizes input tax credit without receiving goods or services is liable to demand and recovery of the wrongly availed credit with interest and to penal action under provisions for fraudulent availment or utilization of input tax credit. Where such a recipient passes on credit by issuing invoices without supply, no tax demand arises for outward transactions, but penal action applies for issuance of invoices without supply and for taking ineligible input tax credit. en-us Thu, 14 Jul 2022 00:00:00 +0530 Thu, 29 Jun 2023 18:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66523 Issuance of tax invoices without actual supply does not constitute a supply and therefore does not give rise to tax demand against the issuer, but the issuer is liable to penal action for issuing invoices without supply. A recipient who fraudulently avails and utilizes input tax credit without receiving goods or services is liable to demand and recovery of the wrongly availed credit with interest and to penal action under provisions for fraudulent availment or utilization of input tax credit. Where such a recipient passes on credit by issuing invoices without supply, no tax demand arises for outward transactions, but penal action applies for issuance of invoices without supply and for taking ineligible input tax credit. Circulars GST - States Thu, 14 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66523