GST Invoices

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Presently, the process is mandatory for businesses with an annual turnover of Rs 20 cr and above

At present, any firm with Rs 20-crore turnover is mandated to file this

GST authorities have expanded the probe into alleged tax evasion by fintech firm BharatPe to include reported issuance of fake invoices by those close to the firm's ousted co-founder Ashneer Grover

The Council is meeting today to discuss issues such as rates on Covid-related supplies

In trade parlance, every product is categorised under an HSN code (Harmonised System of Nomenclature). It helps in systematic classification of goods across the globe

The e-invoicing system was first made mandatory for entities with a turnover of Rs 500 crore and above and later extended to businesses with Rs 100 crore or more on January 1

Goods and Services Tax (GST) authorities have been using data analytics, data sharing and artificial intelligence tools to unearth the ITC utilisation frauds via fake invoicing and bogus firms

Sources say the GST authorities have been using deep data analytics, integrated data-sharing to unearth input tax credit utilisation frauds via fake invoicing and bogus firms

As many as 60.3 million GST e-invoices were generated in December 2020, higher than 58.9 million in November

Odisha Goods and Services Tax (GST) Commissionerate busted tax invoice fraud to the tune of Rs 510 crore and arrested its mastermind, Sandeep Mohanty in Cuttack, an official said on Friday

Any registered user under GST who wishes to generate IRN needs to register on e-invoice system using his GSTIN

In its drive to check fake firms GST field formations have cancelled 163,042 registrations in the month of October and November this year due to non-filing of GSTR-3B returns for more than six months

Daily invoice generation has now improved to 2.5-2.7 million per day compared to an average of 1.5 million a day in October.

On Friday, the authorities arrested 8 more fraudsters, booked 65 cases and unearthed 114 fake GSTIN entities

Those who have been given registration without Aadhaar authentication would be taken as deemed registration.

The Centre will extend it to companies with at least a Rs 100-crore turnover in January and for all companies in April next year for B2B transactions.

Wants physical verification if applicants opt for non-aadhaar process. Committee met in the wake of rising number of fake invoices under GST system

About 18,111 GST identification numbers (GSTINs) used e-invoicing as of Thursday, compared with 8,000 on the first day.

GST officials have busted a fake invoice trading racket and arrested a person for passing on input tax credit (ITC) of over Rs 50 crore, a source said on Sunday.