The GST Act came into effect on 1st July 2017 with the objective to curb tax evasion, seamless flow of credit and eliminating the cascading effect of taxes. But if we look today, we find that the most litigative issue is ITC. GST authorities noticed that some of the registered persons are found to be involved in issuing tax invoice, without actual supply of goods or services or both (fake Invoices), in order to enable the recipients of such invoices to claim input tax credit (ITC) fraudulently and unscrupulous refund of ITC.
Source Taxguru
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