Today the important meeting of the GST Council is going to take place. It is believed that the Center and the states have made preparations to make the GST registration process and legal provisions more stringent to deal with the increasing cases of fake bills. A meeting of the GST Council Legal Committee is being held on Wednesday. Necessary changes to the GST law will be considered in the meeting of the Law Committee of the Council on 18 November. In 4 days, 25 people have been taken into custody by the Directorate General of GST Intelligence.
DG GST Intelligence has identified 1,180 companies involved in fraudulent transactions. According to sources, such individuals and companies also used to cheat banks by violating the GST system's input tax credit, other rules related to GST, through fake invoices. Money laundering was done through fake invoices and hawala.
In view of the growing cases of the same fake invoices, the central and state governments have started discussions on 16 November 2020 on issues such as strengthening the GST registration rules to avoid such frauds and registering fake companies if required. The Central and State Governments are making efforts to make the GST system sharp. Sources in the Finance Ministry said that the GST Council's Law Committee has discussed the issue of fraudulent fraudulent invoices.
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