Govt to take strict action against businesses generating fake invoices: Thakur


PTI | New Delhi | Updated: 01-07-2019 18:59 IST | Created: 01-07-2019 18:55 IST
Govt to take strict action against businesses generating fake invoices: Thakur
"The menace of fake invoices needs to be checked as the actions of few unscrupulous traders make the majority of honest taxpayers uncompetitive and cause loss to government revenue," Image Credit: ANI
  • Country:
  • India

The government Monday warned businesses against generating fake invoices to evade GST, saying tax officers will take strict action in such cases. Speaking on the second anniversary of GST rollout, Minister of State for Finance Anurag Thakur said that action in such cases needs to be taken so that honest taxpayers do not suffer and the government does not lose revenues.

"The menace of fake invoices needs to be checked as the actions of few unscrupulous traders make the majority of honest taxpayers uncompetitive and cause loss to government revenue," he said. Stating that the government will take strict action against businesses generating fake invoices, Thakur said that "imandaar trader se bair nahi, fake invoices walon ki khair nahi" - (no honest trader will be troubled but those generating fake invoices will not be spared).

He hoped that partners from trade and industry will urge their constituents to shun bad practices and comply with the law. "The government is serious about curbing this menace," the minister said. Thakur also urged Goods and Services Tax (GST) authorities to be sensitive to the concerns of honest taxpayers and help resolve genuine difficulties faced by them.

The GST Council, chaired by Union Finance Minister and comprising state counterparts, last week decided to start with a pilot project for businesses to generate e-invoice for B2B sales from January 1.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback