In B2B, we see a lot of fake invoices, which is a challenge to increase the GST collection: Anurag Thakur

New Delhi, Nov 25 (KNN) The government has raised concerns over fake invoices being generated in the business-to-business (B2B) segment which is impacting GST collections.

While addressing the annual session of Consumer Electronics and Appliances Manufacturers Association recently, Minister of State for Finance and Corporate Affairs Anurag Thakur said that under-reporting has become a challenge for the government.

"It is not only the government, it is also the industry which also has to play an important role. In GST, we are seeing a lot of fake invoicing and it is from business to business,” he said.

"B2C is the second chapter. In B2B, we see a lot of fake invoices, which is a challenge to increase the GST collection," he added.

He assured that the Centre would bring more transparency in the system, citing the recent faceless assessment of income tax started by the government.

"Many industry leaders talked about harassments. We have talked about the faceless assessment in India and within a month from Vijayadashami this year, we have started and given 58,322 cases for the first set of assessments," he said.

"I promise you more changes in the system, which would be transparent and more accountability. We would be more than happy to (help) the industry to grow, to make more transparent system in place and I am sure you can also help us by bringing more investments," the minister added.

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