https://www.taxtmi.com/news?id=27726 Central tax authorities detected widespread fake Input Tax Credit (ITC) cases with increased detections, voluntary deposits and arrests. To address ITC fraud the Government implemented risk-based Aadhaar authentication, mandatory physical verification in high-risk cases, bank-account KYC linkage to PAN/Aadhaar, restriction of ITC to supplier-reported invoices, mandatory sequential filing of GSTR-1 before GSTR-3B, liability for beneficial owners, provisional attachment powers, e-way bill and e-invoice compliance tightening, and routine data-analytics monitoring. en-us Mon, 29 Jul 2024 18:57:29 +0530 Tue, 30 Jul 2024 09:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27726 Central tax authorities detected widespread fake Input Tax Credit (ITC) cases with increased detections, voluntary deposits and arrests. To address ITC fraud the Government implemented risk-based Aadhaar authentication, mandatory physical verification in high-risk cases, bank-account KYC linkage to PAN/Aadhaar, restriction of ITC to supplier-reported invoices, mandatory sequential filing of GSTR-1 before GSTR-3B, liability for beneficial owners, provisional attachment powers, e-way bill and e-invoice compliance tightening, and routine data-analytics monitoring. News - Mon, 29 Jul 2024 18:57:29 +0530 https://www.taxtmi.com/news?id=27726