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Panel Discussion on the Implications of Fake Invoicing under GST and Income Tax [Webinar on Virtual Mode]

October 16, 2023 @ 5:45 pm - 8:00 pm

In Collaboration with 

Dear Member,
 

Throughout history, businesses have thrived, but unfortunately, so have malpractices. These malpractices have prompted the government to enact countermeasures. However, ingenious tactics are often employed to circumvent these countermeasures, creating a never-ending cycle.

One such menace that has plagued businesses and posed challenges for both Income Tax and GST departments is the scourge of Fake Invoicing. Fake invoicing is a tactic commonly used to minimize tax liabilities – To which neither The Chamber of Tax Consultants nor Taxmann supports or endorses such illicit activities.

In response, revenue authorities have taken proactive steps, including issuing Standard Operating Procedures, circulars, guidelines, amending statutes, introducing e-invoicing and E-way bills, employing innovative arguments in legal cases, imposing penalties, and invoking prosecution, among other strategies.

It’s essential to remember that the consequences aren’t limited to those who issue fake invoices; even those who receive them face equally serious repercussions.

To shed light on the complex issue of fake invoicing and to make people aware of its severe consequences, The Chamber of Tax Consultants, in collaboration with Taxmann, presents an extraordinary and exclusive webinar. Our panel of experts will delve into the intricate implications of fake invoicing under both GST and Income Tax laws.

The webinar would be providing a 360 degree perspective from Income Tax and GST related provisions, issues etc, including the following:
 

GST Income Tax
  • Whether the SOPs issued on fake guidelines are exhaustive and the actions beyond the SOPs are invalid
  • Whether the same warrants reversal of ITC for the relevant or any other transaction
  • Whether the same can lead to cancellation of registration
  • Whether the valuation in such cases can be considered as a benchmark for other transactions
  • Whether can prosecution be invoked
  • Penal action on those involved in such transactions

 

 

 
  • Whether can it lead to disallowance of expenses u/s 69C
  • Whether fake invoicing can lead to rejection of books of accounts and invocation of Sec 144?
  • Whether an instance of fake invoicing can be extrapolated to other period?
  • Whether presumption can be made of other data to be untrue if some instances of fake invoicing found?
  • Whether fake invoicing can form a reason for reopening/revision/search/seizure on the assessee or any other connected person
  • Whether the same can be a ground leading to invocation of prosecution  u/s 276C
  • Whether penalty for false entry u/s 271AAD be invoked.
  • Whether it amounts to false statement in verification etc. in ITR u/s 277 ?
  • Whether it amounts to falsification of books of accounts or document u/s 277 A ?
  • Consequences on consultants and parties who are involved
  • Consequences u/s 95 of Chapter XA of the Act.
  • Consequences of Money Laundering Act
  • Consequences under Indian Penal Code
 

Join us for this enlightening webinar as we unravel the complexities surrounding fake invoicing and work collectively to combat this harmful practice. Here are the details of the upcoming event:
 

Panelists Moderators
 

Adv. K. Vaitheeswaran
CA Yogesh Thar		  

CA Rajiv Luthia		  

CA Mahendra Sanghvi

 

Day & Date  Monday, 16th October, 2023
 Time  5.45 pm – 8.00 pm
 Topic  Panel Discussion on the Implications of fake   invoicing under GST and Income Tax
 Register Here  CLICK HERE

Looking forward to your active participation.

For further information, please visit Chamber’s website www.ctconline.org or kindly contact Mr. Hitesh Shah on 9821889249 / [email protected]

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Details

Date:
October 16, 2023
Time:
5:45 pm - 8:00 pm