Curb on fake invoices may add Rs 50,000 crore to GST kitty

The indirect tax department has developed a risk-based index to identify entities likely to indulge in generating ‘fake invoices’ to evade tax and is strengthening the legal and administrative framework to curb the menace. These steps could potentially lead to additional goods and services tax (GST) collection of Rs 50,000 crore a year, according to the department’s internal estimate. The fake inv…