https://www.taxtmi.com/circulars?id=71627 Where invoices are issued without actual supply, the activity is not supply and creates no tax liability or demand under sections 73 or 74 against the issuer, though penalty applies for issuing fake invoices. A recipient who fraudulently avails and utilizes input tax credit for genuine outward supplies is subject to recovery, interest, and penalty under section 74, without duplicate penalty for the same act. An intermediary passing such credit through further invoices without actual supply faces specified penalties, although no demand arises in that specific pass-through transaction. en-us Tue, 03 Jan 2023 00:00:00 +0530 Sat, 17 Oct 2026 13:45:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=71627 Where invoices are issued without actual supply, the activity is not supply and creates no tax liability or demand under sections 73 or 74 against the issuer, though penalty applies for issuing fake invoices. A recipient who fraudulently avails and utilizes input tax credit for genuine outward supplies is subject to recovery, interest, and penalty under section 74, without duplicate penalty for the same act. An intermediary passing such credit through further invoices without actual supply faces specified penalties, although no demand arises in that specific pass-through transaction. Circulars GST - States Tue, 03 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=71627