In India, majority of business class population comes from middle class and what business they do is of no relevance here but how they do is of utmost relevance.
We all know the concept of sole proprietorship and partnership firms and yes this “firm” is the way in which how majority people work.
Did you notice the increasing GST frauds are originating from the fake invoices?
Undoubtedly, the frauds are getting traced by the department but just think and answer to yourself that whether all the frauds are getting traced or reported?
We all know the answer is No and it is impossible too but shall we continue like this only? Let’s understand.
The Fake Invoices:
Recently, we came to know about few bigger scamss in which the fake ITC (Input Tax Credit) was claimed by the assessees.
Read more on: https://taxguru.in/chartered-accountant/regularization-firms-professional-immunity-chartered-accountants.html
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