What Is a Fake Invoice Under GST and Its Penalties?

Abhishektaxxinn10 Jul, 2023Business

Under GST law, fake invoices refer to invoices that are created and produced without any actual supply of goods or services. These invoices are often used for tax evasion or falsely claiming input tax credits. Fake invoices involve dishonest practices such as fabricating transactions, inflating prices, or misrepresenting goods/services in the market.