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Fake invoices for GST credit: Govt may invoke COFEPOSA against offenders

Fake invoices for GST credit: Govt may invoke COFEPOSA against offenders

After a nationwide drive against fake invoices that tend to mar the Goods and Services Tax (GST) system, the government is examining if the offenders can be booked under COFEPOSA (Conservation of Foreign Exchange and Prevention of Smuggling Activities Act), apart from taking action against them under GST laws, Income Tax Act and Prevention of Money Laundering Act, sources said.

The government is also examining whether businesses whose owners or promoters do not have commensurate income tax payment records may require physical and financial verification before their companies can be allowed GST registration

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