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Hiral Jain

Stealth • 6m

Hello everybody! Day 3 of knowing about businesses that are still operating even after being illegal! Have you ever come across news about GST fraud or fake billing? It's a sneaky tactic used by some businesses to hide their black money. Let me break it down, Fake billing is a way for businesses to dodge paying GST to the government. Here's how it works: they present a fake bill to the government and claim that they didn't earn a single rupee from the sale. For example, let's revisit the previous scenario.(Img) The business shows a fake invoice of 118 from A as their purchase and claims to have sold the same for 118 at B. This means no GST needs to be collected. But gov can trace A easily right? No, A has obtained a fake bill from C, and C from Z, and the chain goes, making it difficult to trace the culprit. Continued in the comments,

6 replies8 likes

Replies (6)

Karan Sahu

Stealth • 6m

Great 🙌

0 replies1 like

PRATHAM
•

Medial • 6m

Can you please give a real example about this ?

1 replies1 like

Hiral Jain

Stealth • 6m

Understanding this could be hard for some, if you find any difficulty please DM me, ill simplify😃 (understanding the business market is really necessary)

0 replies

Hiral Jain

Stealth • 6m

In this fake billing system, false inventory reflects lower values (for example, showing a purchase of 80 as 118) and then sell it for a higher price (118), profit of 38₹ - all without having to pay any taxes or declare it as income. [wondering how will they use this black money later. Don't worry I got you covered]

0 replies

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