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  2. Jul 1, 2024 · Section 122 of the CGST Act, consists of a list that includes 21 offences on which the law imposes penalty. For the sake of better understanding, such offences are divided into four broad categories, and these are as follows: – (Section 122 of the CGST Act,2017) (I) GST Offences related to Invoicing and Documentation:

  3. Jun 22, 2024 · Amendment in Section 107 and Section 112 of CGST Act for reducing the amount of pre-deposit required to be paid for filing of appeals under GST: The GST Council recommended reducing the amount of pre-deposit for filing of appeals under GST to ease cash flow and working capital blockage for the taxpayers.

  4. Jun 30, 2024 · Section 16(4) of the CGST Act links the ITC time limit to the financial year mentioned on the invoice or debit note. Implications: Recipients can claim ITC on RCM supplies even if the invoice is issued after the service is received, subject to tax payment and adherence to other conditions under sections 16 and 17 of the CGST Act.

  5. Jun 25, 2024 · Section 112 of the CGST Act, 2017 to be amended to allow the three-month period for filing appeals before the Appellate Tribunal to start from a date to be notified by the government in respect of appeal or revision orders passed before the date of said notification.

  6. Jun 18, 2024 · In situations when no specific penalty is imposed under the Act or rules, Section 125 of the GST statute provides for general penalties. The maximum fine under this clause is Rs. 50,000 for IGST or Rs. 25,000 for CGST, SGST, and UTGST.

  7. Jun 23, 2024 · Amend section 122 (1B) of CGST Act retrospectively to clarify it applies only to e-commerce operators required to collect tax under section 52. Amend rule 142 of CGST Rules to allow adjustment of payments made via FORM GST DRC-03 against pre-deposit amounts for appeals.

  8. Jun 24, 2024 · On Interest and penalty. Section 128A in CGST Act is proposed to be inserted in order to provide waiver of interest or penalty or both against demands raised for the period FY 2017-18 to FY 2019-20 under Section 73 of CGST Act, subject to the condition that such Tax demanded is paid by March 31, 2025.

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