As per Notification under section 66 of PMLA, 2002 Dated 7 July 2023, Government brings GSTN under PMLA (Prevention of Money Laundering Act) .
Purpose is to give access to investigating agencies to GSTN data to track & Investigate money laundering cases involving in GST Fraud.
This happen due to Special GST Drive run in the month of May and June 2023 in which government found Fake GST Registration and involvement of Fake utilisation of Input Tax Credit , Due to which now government is in action to tighten the measures to curb and stop fake registrations under GST and this act of government will help them to Investigate using GSTN data.
More of such measures are expected in 50th GST council Meeting also which is scheducled on 11 July, Click here to read expectation from 50th GST Council Meeting: https://taxupdates.cagurujiclasses.com/50th-gst-council-meeting-expectations/#more-1175
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