- The GST Network (GSTN) has been brought under the Prevention of Money Laundering Act (PMLA), allowing for enhanced data sharing between the Enforcement Directorate (ED) and GSTN.
- This collaboration aims to combat tax evasion and ensure compliance.
- The ED and GSTN will now cooperate to streamline efforts to tackle GST-related offenses, with the introduction of PMLA provisions making it increasingly challenging for tax evaders to go undetected.
- Expect more stringent action against GST offenses involving fake credits, fake registrations, and fake invoices.
- This information comes from a notification by the Ministry of Finance dated 7 July, 2023.
Source CA Rahul Jain
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