The Indian government has added the Goods and Services Network to the Prevention of Money-Laundering Act of 2002 in a bid to allow sharing of data with enforcement agencies.
- The central government “being satisfied that it is necessary in the public interest to do so” made the amendment, according to a notification by the Ministry of Finance’s department of Finance, dated July 7
- The move will help in curbing fraud and restrict thee operations of dubious businesses, according to the statement
- NOTE: Central GST Authority has tracked fake invoices amounting to ₹63,000 crore over a three-year period starting August 2020, ...
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