{"id":24999,"date":"2023-07-11T22:52:00","date_gmt":"2023-07-11T17:22:00","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=24999"},"modified":"2023-07-19T18:23:10","modified_gmt":"2023-07-19T12:53:10","slug":"gst-offences-covered-under-pmla-ed-to-share-info-to-gstn","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/gst-offences-covered-under-pmla-ed-to-share-info-to-gstn\/","title":{"rendered":"GST offences covered under PMLA, ED to share info To GSTN"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d42346bd8d4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d42346bd8d4\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/gst-offences-covered-under-pmla-ed-to-share-info-to-gstn\/#GST_offences_covered_under_PMLA_ED_to_share_info_with_GSTN\" title=\"GST offences covered under PMLA. ED to share info with GSTN\">GST offences covered under PMLA. ED to share info with GSTN<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/gst-offences-covered-under-pmla-ed-to-share-info-to-gstn\/#GST_Act_violations_will_be_booked_as_Prevention_of_Money_Laundering_Act_offence\" title=\"GST Act violations will be booked as Prevention of Money Laundering Act offence\">GST Act violations will be booked as Prevention of Money Laundering Act offence<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/gst-offences-covered-under-pmla-ed-to-share-info-to-gstn\/#Offences_Under_the_Prevention_of_Money_Laundering_Act_PMLA\" title=\"Offences Under the Prevention of Money Laundering Act (PMLA)\">Offences Under the Prevention of Money Laundering Act (PMLA)<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-25001\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/GST-offences-covered-under-PMLA.ED-to-share-info-with-GSTN...jpg\" alt=\"GST offences covered under PMLA.ED to share info with GSTN..\" width=\"970\" height=\"980\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/GST-offences-covered-under-PMLA.ED-to-share-info-with-GSTN...jpg 970w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/GST-offences-covered-under-PMLA.ED-to-share-info-with-GSTN..-297x300.jpg 297w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/GST-offences-covered-under-PMLA.ED-to-share-info-with-GSTN..-768x776.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/GST-offences-covered-under-PMLA.ED-to-share-info-with-GSTN..-800x808.jpg 800w\" sizes=\"(max-width: 970px) 100vw, 970px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"GST_offences_covered_under_PMLA_ED_to_share_info_with_GSTN\"><\/span><a href=\"https:\/\/carajput.com\/archives\/gst-offences-covered-under-pmla-ed-to-share-info-with-gstn.pdf\">GST offences covered under PMLA. ED to share info with GSTN<\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Offences under the GST Act The PMLA has now been applied to the Goods and Services Tax Network (GSTN) by the government. Now, the PMLA allows for the sharing of GSTN data and information. Therefore, the PMLA will address GST violations such using fictitious invoices and input tax credits, among others. Regarding imprisonment and custody attachment, the PMLA includes very strict provisions. This will assist in reducing tax evasion across the nation.<\/p>\n<p>In simple words,\u00a0 money laundering is the intentional, direct or indirect handling of the proceeds of crime. Money laundering is commonly understood as the process of transforming black money, also known as Number Two money, into white money, also known as Number One money.<\/p>\n<p>Professional &amp; Experts clarified that\u00a0bringing GSTN under Prevention of Money Laundering Act, 2002 does not mean Goods and services Tax offences come under the money laundering or Prevention of Money Laundering Act, 2002 Act, this stressing that the notification only facilitates sharing of information between the investigating agencies &amp; GSTN,<\/p>\n<h3><span class=\"ez-toc-section\" id=\"GST_Act_violations_will_be_booked_as_Prevention_of_Money_Laundering_Act_offence\"><\/span><span style=\"color: #000080;\"><strong>GST Act violations will be booked as Prevention of Money Laundering Act offence<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The decision was made to subject GSTN to money laundering regulations due to an increase in cases of GST fraud and fictitious registrations. The money laundering legislation will provide tax officials more power to locate the original beneficiary in fraud instances, say experts.<\/p>\n<p>The use of fictitious tax credits and false registrations has been looked into by the GST authorities.<\/p>\n<p>Field tax authorities identified approximately 69,600 suspicious GST identifying numbers (GSTINs) for physical verification during a two-month campaign that started on May 16.<\/p>\n<p>Over 17,000 (almost 25%), or more than 59,000 GSTINs, have been certified to be non-exempt out of those.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Offences_Under_the_Prevention_of_Money_Laundering_Act_PMLA\"><\/span><span style=\"color: #000080;\"><strong>Offences Under the Prevention of Money Laundering Act (PMLA)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A person performs money laundering when he\/she has directly or indirectly attempted to indulge, knowingly is a party, knowingly assisted or is genuinely involved in one or more of the following processes or activities connected with proceeds of crime: Possession. Acquisition. Concealment,<\/p>\n<p>Part A of the Schedule to the Prevention of Money Laundering Act includes serious offences under the IPC such murder, culpable homicide, voluntary infliction of harm to extort property or a valuable security, kidnapping for ransom, extortion, forgery, and counterfeiting money orders or bank notes.<\/p>\n<p>Part B of the Schedule to the Prevention of Money Laundering Act lists false declarations, fake papers, and other offences as defined in section 132 of the Customs Act.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-25006\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/GST-offences-covered-under-PMLA.ED-to-share-info-with-GSTN-2.jpg\" alt=\"GST offences under PMLA.ED to share info with GSTN\" width=\"893\" height=\"1024\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/GST-offences-covered-under-PMLA.ED-to-share-info-with-GSTN-2.jpg 893w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/GST-offences-covered-under-PMLA.ED-to-share-info-with-GSTN-2-262x300.jpg 262w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/GST-offences-covered-under-PMLA.ED-to-share-info-with-GSTN-2-768x881.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2023\/07\/GST-offences-covered-under-PMLA.ED-to-share-info-with-GSTN-2-800x917.jpg 800w\" sizes=\"(max-width: 893px) 100vw, 893px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GST offences covered under PMLA. ED to share info with GSTN Offences under the GST Act The PMLA has now been applied to the Goods and Services Tax Network (GSTN) by the government. Now, the PMLA allows for the sharing of GSTN data and information. Therefore, the PMLA will address GST violations such using fictitious &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10020],"tags":[5282,894],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/24999"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=24999"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/24999\/revisions"}],"predecessor-version":[{"id":25003,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/24999\/revisions\/25003"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=24999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=24999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=24999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}