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Hiral Jain

CA inter • 1y

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 bre

Hiral Jain

CA inter • 1y

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]

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