It has been reported that the Indore Commissionerate of Central GST has recently identified 62 firms that obtained GST registration using fake documents. These firms were found to be issuing fake invoices and claiming crores of input tax credits.
There are certain cases where the transaction in its entirety starting from the sale of the original asset till the purchase or construction of the new assets is called into question as a colourable transaction done with the sole purpose of evasion of capital gain tax.
Unravel the complexities of retrospective and retroactive operation of law in business, exploring legal implications and judicial perspectives in India and beyond.
