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section 92A of the Income-tax Act, 1961; (13) ―audit‖ means the examination of records, returns and other documents maintained or furnished by the registered person under this Act or the rules made
Aug 15, 2020 · Section 122- Penalty for certain offences under GST. The section declares the offences that attract penalty as a consequence, apart from the requirement to pay the tax and applicable interest.
122. Penalty for certain offences. (1) Where a taxable person who-- (i) supplies any goods or services or both without issue of any invoice or issues an incorrect or false invoice with regard to any such supply;
benefit of transactions specified under sub-section (1A) of section 122 of CGST Act, and at whose instance such transactions are conducted, shall also be liable for penal action under the provisions of the said sub-section.
ClearServices. Tax filing for professionals. Tax filing for traders. Launch your business. Services for businesses. Trademark. TDS returns. cgst section 122 penalty for certain offences.
section 130 of the CGST Act read with section 122 of the CGST Act, and the fine in lieu of confiscation leviable under sub-section (2) of section 130 of the CGST Act shall be specified. Where the conveyance is used for the carriage of goods or passengers for hire, the owner of the conveyance shall also be issued a notice under
Section 122 of the Central Goods and Services Tax (CGST) Act 2017 outlines the penalties for various GST-related offences. It is of utmost importance for taxpayers, especially those registered under the CGST Act, to understand these provisions.
Jul 17, 2023 · Page Contents. I. Arguments for section 73 / 74 as independent penalty levying provisions. II. Levy vs Imposition: Arguments for section 122 of the Act as a penalty-levying provision. III. Intention of the legislature. IV. Position under the Central Excise Act, 1944. V. Concluding Remarks.
May 19, 2020 · Section 122 of the CGST Act is being amended by inserting a new sub-section 122(1A) to make the beneficiary of the transactions of passing on or availing fraudulent Input Tax Credit liable for penalty similar to the penalty leviable on the person who commits such specified offences.
(1) Notwithstanding anything contained in this Act, where any person transports any goods or stores any goods while they are in transit in contravention of the provisions of this Act or the rules made thereunder, all such goods and conveyance used as a means of transport for carrying the said goods and documents relating to such goods and ...
