Penalties related to fake invoices and GST are governed by the Central Goods and Services Tax (CGST) Act, 2017. The specific section that deals with penalties for issuing fake invoices is Section 122 of the CGST Act.
Under Section 122, if a person is found guilty of issuing fake invoices or engaging in any fraudulent activity with intent to evade taxes, they may be subject to penalties. The penalties can range from monetary fines to imprisonment, depending on the severity of the offense.