Fake firms, fake invoices and credit fraud — how it went all wrong for GST in just 2 years

New Delhi : Bogus firms, fake invoices and fraudulent input tax credit claims have become the biggest headaches for the tax administration of the goods and services tax (GST) regime in just over two years. So what went wrong with India’s ambitious indirect tax regime rolled out in July 2017 that was meant to create an electronic trail of all transactions through a seamless chain to make evasion di…