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[1]Central Goods and Services Tax Act 2017 (CGST Act), s 2(62), 2(63) and 16(1). The Act is supplemented by the Integrated Goods and Services Tax Act 2017 (IGST Act) and State GST Acts.
[2]'Fake ITC claims detection by central GST officers up 51% at Rs 36,374 crore in FY24' Deccan Herald (29 July 2024) https://www.deccanherald.com/business/fake-itc-claims-detection-by-central-gst-officers-up-51-at-rs-36374-crore-in-fy24-3126661 accessed 5 October 2026.
[3]Saptarshi Datta, Himanshu Thakkar and Siddharth Dabhade, 'Combating GST Input Tax Credit Fraud in India: Forensic Accounting, Data Analytics, and Legal Enforcement Strategies' (2026) 5(1) International Journal of Management, Public Policy and Research 37, 42.
[4]Aditya Kalra, 'Exclusive-Haier, Godrej, Blue Star failed to detect fake e-waste recycling claims, India notice shows' (Reuters, 30 September 2026), syndicated at https://1027wbow.com/2026/09/30/exclusive-haier-godrej-blue-star-failed-to-detect-fake-e-waste-recycling-claims-india-notice-shows/ accessed 5 October 2026.
[5]Eicher Motors Ltd v Union of India (1999) 2 SCC 361.
[6]Jayam & Co v Assistant Commissioner (2016) 15 SCC 125, paras 11–12.
[7]CGST Act, s 16(2)(a)–(c). The conditions were restructured by the Finance Act 2021 and the Finance Act 2022, with effect from 1 January 2022 and 1 October 2022 respectively, which inserted s 16(2)(aa) (supplier's furnishing of invoice details in the outward statement, communicated to the recipient) and amended s 16(2)(c)..
[9]The CGST Act does not define a 'fake invoice'. The term is used in a Standard Operating Procedure circulated by the CBIC (Commissioner (Investigation)) to the GST Council Secretariat, which describes fake invoices as GST invoices raised by an entity without actual supply of goods or services or payment of GST: 'Standard Operating Procedure (SOP) for Tackling Fake Invoice Cases' https://gstcouncil.gov.in/sites/default/files/SOP-for-Tackling-Fake-Invoice.pdf (as cited in the secondary literature; I have accessed the text as reproduced at https://taxguru.in/goods-and-service-tax/sop-utilising-fake-invoice-issuers-dataset-sgst-authorities.html accessed 5 October 2026).
[10]CGST Act, ss 73 and 74 (and, for periods from 2024-25, s 74A) refer to input tax credit 'wrongly availed or utilised'. The distinction matters because blocking the electronic credit ledger under CGST Rules 2017, r 86A operates on credit that is available but not yet utilised.
[11]Michael Keen and Stephen Smith, 'VAT Fraud and Evasion: What Do We Know and What Can Be Done?' (2006) 59 National Tax Journal 861.
[13]CGST Act, s 16(2) and (4); CGST Rules 2017, r 36(1) (documents on which credit may be taken). Section 16(5) and (6), inserted by the Finance (No 2) Act 2024.
[15]CGST Act, ss 37 and 41 as amended by the Finance Act 2022; GSTR-1 (outward supplies), GSTR-2B (auto-generated statement of ITC) and GSTR-3B (summary return) are the operative returns. The GST portal's Invoice Management System, introduced in late 2024, lets recipients accept, reject or keep pending invoices before GSTR-2B is generated: GSTN, 'Invoice Management System' advisory https://tutorial.gst.gov.in/downloads/news/revised_advisory_on_ims.pdf accessed 5 October 2026.
[20]CGST Act, ss 73, 74 and 74A (inserted by the Finance (No 2) Act 2024 for financial years 2024-25 onwards). Under s 74, voluntary payment before notice attracts a penalty of 15%, within 30 days of notice 25%, within 30 days of the order 50%, failing which the penalty is equal to the tax. Section 74A preserves a graded structure, with sixty-day windows in the fraud limb.
[22]CBIC, Circular No 171/03/2022-GST (6 July 2022), as summarised in 'Fake Invoice | Applicability of Penalties & Demand | CBIC Clarification' https://gsthero.com/blog/fake-invoice-applicability-of-penalties-demand-cbic-clarification/ accessed 5 October 2026.
[23]CGST Act, s 132(1)(b), (c), (1)(i)–(iv), (4) and (5).
[25]Radhika Agarwal v Union of India 2025 INSC 272 (SC, 27 February 2025).
[26]CGST Act, ss 67 and 83; CGST Rules 2017, r 86A. On the standard for r 86A and its relation to s 83, see Raghav Agarwal v Commissioner of Central Tax and GST WP(C) 10980/2024 (Delhi HC, 24 September 2024) (Vibhu Bakhru and Sachin Datta JJ).
[27]CGST Act, s 29(2); CGST Rules 2017, rr 21 and 21A.
[28]CBIC, Instruction No 02/2024-GST, F No CBIC-20/16/30/2020-GST (12 August 2024) https://cbic-gst.gov.in/pdf/instruction-02-2024-GST-12082024.pdf.
[29]Marwin Heinemann and Wojciech Stiller, 'Digitalization and Cross-Border Tax Fraud: Evidence from E-Invoicing in Italy' (2025) 32 International Tax and Public Finance 195; Matthieu Bellon and others, 'Digitalization to Improve Tax Compliance: Evidence from VAT E-Invoicing in Peru' (2022) 210 Journal of Public Economics 104661.
[30]'GST revenues remain high while fake invoicing menace continues' Deccan Herald (opinion) https://www.deccanherald.com/opinion/gst-revenues-remain-high-while-fake-invoicing-menace-continues-1228984.html accessed 5 October 2026..
[33]ibid. Indian outlets report the credit amounts in rupees at roughly Rs 3.53 crore (Haier), Rs 1.79 crore (Blue Star) and Rs 1.53 crore (Godrej): 'Haier, Godrej and Blue Star Face Scrutiny Over E-Waste Tax Credit Claims' The420.in https://the420.in/haier-godrej-blue-star-e-waste-tax-credit-claims/ accessed 5 October 2026.
[36]State of Karnataka v Ecom Gill Coffee Trading Pvt Ltd Civil Appeal No 230 of 2023 and connected appeals (SC, 13 March 2023) 2023 INSC 212 (MR Shah and CT Ravikumar JJ).
[42]Sumati Dayal v Commissioner of Income Tax 1995 Supp (2) SCC 453.
[43]Arise India Ltd v Commissioner of Trade and Taxes, Delhi (Delhi HC, 26 October 2017), special leave petition dismissed in Commissioner of Trade and Taxes, Delhi v Arise India Ltd (SC, 10 January 2018). The Delhi High Court held that s 9(2)(g) of the Delhi VAT Act, in so far as it denied credit to bona fide purchasers for the seller's default, violated arts 14 and 19(1)(g) of the Constitution.
[44]Nitesh Jain, 'Supreme Court Judgement in case of Ecom Gill on ITC & Implications under GST' TaxGuru (24 March 2023) https://taxguru.in/goods-and-service-tax/supreme-court-judgement-case-ecom-gill-implications-gst.html accessed 5 October 2026.
[45]Anil Rice Mill v State of Uttar Pradesh Writ Tax No 886 of 2023 (Allahabad HC, 14 August 2024) (Piyush Agrawal J); see the account in PwC, 'Burden to prove ITC eligibility under the GST law is on taxpayer' (Tax Insights, 20 August 2024) https://www.pwc.in/assets/pdfs/news-alert/tax-insights/2024/pwc_tax_insights_20_august_2024_burden_to_prove_itc_eligibility_under_the_gst_law_is_on_taxpayer.pdf accessed 5 October 2026..
[46]The Allahabad High Court has also distinguished Ecom Gill on its facts where movement and return compliance were established: see the account of Writ Tax No 3829 of 2025 (17 December 2025) in 'No Fraud, No Jurisdiction: Allahabad HC Draws a Clear Line under GST Section 74' TaxGuru https://taxguru.in/goods-and-service-tax/fraud-jurisdiction-allahabad-high-court-draws-clear-line-gst-section-74.html accessed 5 October 2026..
[48]Bharatiya Sakshya Adhiniyam 2023 (Act 47 of 2023), in force from 1 July 2024.
[49]BSA, ss 57, 61 and 63 and Schedule. The BSA replaced s 65B of the Indian Evidence Act 1872, whose certificate requirement was authoritatively construed in Anvar PV v PK Basheer (2014) 10 SCC 473 and Arjun Panditrao Khotkar v Kailash Kushanrao Gorantyal (2020) 7 SCC 1. I rely on the secondary accounts of the Schedule's form, e.g. 'Electronic evidence under the BSA, 2023' iPleaders https://blog.ipleaders.in/electronic-evidence-under-the-bsa-2023/ accessed 5 October 2026.
[50]CGST Act, ss 136 and 145. I have not examined whether s 145 has been conformed to the BSA's terminology.
[51]BSA, s 39 (expert opinion, corresponding to s 45 of the Indian Evidence Act 1872); Information Technology Act 2000, s 79A.
[56]Datta, Thakkar and Dabhade (n 3) 45; Madan and Sharma (n 3) 6–7..
[57]'Delhi government's GST dept unearths Rs 347 crore "fake billing scam"' Deccan Herald (PTI) https://www.deccanherald.com/amp/story/india%2Fdelhi-governments-gst-dept-unearths-rs-347-crore-fake-billing-scam-1066953.html accessed 5 October 2026. The report describes an official statement; the allegations had not been adjudicated.
[58]Justice KS Puttaswamy (Retd) v Union of India (2017) 10 SCC 1..
[59]Joined Cases C-439/04 and C-440/04 Axel Kittel v Belgian State and Belgian State v Recolta Recycling SPRL ECLI:EU:C:2006:446, paras 56–61.
[60]Council Directive (EU) 2025/516 of 11 March 2025 amending Directive 2006/112/EC as regards VAT rules for the digital age; Heinemann and Stiller (n 29).
[61]Modern Dental College and Research Centre v State of Madhya Pradesh (2016) 7 SCC 353; Justice KS Puttaswamy (Retd) v Union of India (Aadhaar) (2019) 1 SCC 1.
[62]CGST Act, s 168; Commissioner of Central Excise v Ratan Melting and Wire Industries (2008) 13 SCC 1.
[63]On legitimate expectation generally see Navjyoti Co-operative Group Housing Society v Union of India (1992) 4 SCC 477.
[1]Amanda Silberling, ‘Builder.ai Was Once Worth $1.5B. Now It’s Filing for Bankruptcy’ TechCrunch (20 May 2025); ‘Builder.ai Files for Bankruptcy After Creditors Seize Accounts’ Bloomberg (5 June 2025).
[2]Thomas Claburn, ‘Builder.ai Coded Itself into a Corner – Now It’s Bankrupt’ The Register (21 May 2025); on the underlying allegations of overstated automation see WebProNews, ‘Builder.ai’s Collapse: AI Hype Fuels $1.5B Startup’s 2025 Bankruptcy’ (30 July 2025).
[3]Raghav Krishna Agnihotri and Madhav Krishna Agnihotri, ‘Reconceptualising the IBC for AI: A Case for Asset Stacks’ (Blog post, 2026).
[11]Victory Iron Works Ltd v Jitendra Lohia, Civil Appeal Nos 1743 and 1782 of 2021 (Supreme Court of India, 14 March 2023) (V Ramasubramanian and Pankaj Mithal JJ).
[12]ibid, holding that development rights constitute ‘property’ under s 3(27) of the IBC and hence ‘assets’ under ss 18(f) and 25(2)(a) of the Code.
[20]Digital Personal Data Protection Act 2023 (India), s 8.
[21]Justice K S Puttaswamy (Retd) v Union of India (2017) 10 SCC 1, recognising informational privacy as an incident of the fundamental right to life and personal liberty under article 21 of the Constitution of India, and forming the constitutional foundation of the Digital Personal Data Protection Act 2023.
[22]Digital Personal Data Protection Act 2023 (India), s 16.
[23]Federal Trade Commission v Toysmart.com LLC, 2000 WL 34016434 (D Mass 2000); In re Toysmart.com LLC, Case No 00-13995-CJK (Bankr D Mass 2000).
[24]Bankruptcy Abuse Prevention and Consumer Protection Act 2005 (US), inserting 11 USC § 332 (consumer privacy ombudsman) and amending 11 USC § 363(b)(1) to restrict the sale or lease of personally identifiable information inconsistent with a debtor’s stated privacy policy.
[25]In re 23andMe Holding Co, United States Bankruptcy Court, Eastern District of Missouri (2025), Report of the Consumer Privacy Ombudsman.
[27]Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016, reg 30, as considered in Victory Iron Works (n 12).
[3]Insolvency and Bankruptcy Code 2016, s 31(4) proviso, inserted by the Insolvency and Bankruptcy Code (Amendment) Act 2018, s 15.
[4]Arcelor Mittal India Pvt Ltd v Abhijit Guhathakurta (2019) SCC OnLine NCLAT 920.
[5]Independent Sugar Corporation Ltd v Girish Sriram Juneja, Civil Appeal No 6071 of 2023, (2025) INSC 124 (SC).
[6]Insolvency and Bankruptcy Code (Amendment) Act 2026 (Act No 6 of 2026), received Presidential assent on 6 April 2026; ss touching Section 31 in force from 26 May 2026. See ibclaw.in, ‘President Assents to Insolvency and Bankruptcy Code (Amendment) Act 2026’ (7 April 2026); LKS Attorneys, 'Insolvency and Bankruptcy Code (Amendment) Act, 2026’ (13 April 2026).
[7]Government of India, Ministry of Corporate Affairs, Report of the Insolvency Law Committee (March 2018) paras 8.1-8.7.
[11]Committee of Creditors of Essar Steel India Ltd v Satish Kumar Gupta (2020) 8 SCC 531.
[12]Anwesha Nanda and Suprava Sahu, ‘A Hollow Victory? IBC vs CCI: How the SC Ruling May Complicate Resolution’ (IBC Laws, 2 April 2025).
[13]‘Supreme Court Ruling Shakes Up Insolvency and Competition Approvals in India’ (Kluwer Competition Law Blog).
[14]Insolvency and Bankruptcy (Amendment) Bill 2025, Bill No 107 of 2025, introduced in the Lok Sabha on 12 August 2025.
[15]AZB & Partners, ‘IBC 2.0: Major Reforms to Insolvency and Bankruptcy Code’ (3 April 2026).
[16]CMS Induslaw, ‘The Insolvency And Bankruptcy Code (Amendment) Act, 2026’ (13 April 2026).
[17]LKS Attorneys, ‘Insolvency and Bankruptcy Code (Amendment) Act, 2026’ (13 April 2026); see also Lexology, ‘Insolvency and Bankruptcy Code (Amendment) Act, 2026’ (13 April 2026).
[18]Ghanashyam Mishra & Sons (P) Ltd v Edelweiss Asset Reconstruction Co Ltd (2021) 9 SCC 657.
[19]MHCO Law, ‘The Insolvency and Bankruptcy Code (Amendment) Act, 2026’ (13 April 2026).
[20]‘Legislating Around The Court: The IBC Amendment Act, 2026 And The Erosion Of Ex-Ante Antitrust Scrutiny In Insolvency Resolution’ (IJLLR).
[7] Reserve Bank of India, Master Direction, Foreign Investment in India, RBI/FED/2017-18/60, FED Master Direction No. 11/2017-18 (updated Jan. 20, 2025).
[8] Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019, No. FEMA 395/2019-RB (Oct. 17, 2019), regs. 3-4.
[10] Reserve Bank of India, Master Direction, Overseas Investment, RBI/FED/2024-25/121, FED Master Direction No. 15/2024-25 (July 24, 2024; updated Apr. 1, 2026).
[11] Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, r. 2A (India); Reserve Bank of India, Master Direction, Foreign Investment in India, supra note 7.
[16] Reserve Bank of India, Master Direction, Foreign Investment in India, supra note 7, paras. 2.3-2.5.
[17] Reserve Bank of India, Master Direction, Foreign Investment in India, supra note 7, para. 2.3.
[18] Reserve Bank of India, Master Direction, Foreign Investment in India, supra note 7, paras. 2.3-2.5.
[19] Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019, No. FEMA 395/2019-RB, reg. 4 (Oct. 17, 2019).
[20] Foreign Exchange Management (Overseas Investment) Rules, 2022, r. 2(1) (India); Reserve Bank of India, Master Direction, Overseas Investment, supra note 10, pt. I.
[21] Foreign Exchange Management (Overseas Investment) Rules, 2022, r. 2(1)(e)-(f) (India); Reserve Bank of India, Master Direction, Overseas Investment, supra note 10, pt. I.
[23] Foreign Exchange Management (Overseas Investment) Rules, 2022, r. 2(1)(d) (India); Reserve Bank of India, Master Direction, Overseas Investment, supra note 10, pt. I.
[33] Companies Act, No. 18 of 2013, §§ 42, 62 (India); Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, regs. 160-164 (as amended).
[34] Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, reg. 3(1)-(2) (as amended).
[35] Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, reg. 3 (as amended).
[36] Competition Act, No. 12 of 2002, §§ 5-6 (India).
[37] Competition Commission of India, Regulation of Combination, Competition Act, 2002, §§ 5-6, https://www.cci.gov.in/regulation-of-combination (last visited Oct. 7, 2026).