Web7 Jul 2024 · Here in 73(5) talks about before SCN pay the amount of tax along with interest payable thereon under section 50 on the basis of his own ascertainment of such tax or … Section 73 (5) and 74 (5 ) allow person chargeable with under subsection 1, to pay amount of tax and interest payable u/s 50, before service of SCN on the basis of own ascertainment or tax ascertained by Proper Officer. If such amount has paid before service of SCN no penalty will attract u/s 73 However in case of … See more Under Scheme of CGST act, persons who are to liable for registration requires to obtain registration. Every registered person has to determine his tax liability by … See more Department examine correctness and completeness of self assessment and returns of taxable person by of a) matching, reversal and reclaim of input tax credit … See more 73. Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason other than fraud or any willful … See more 74. Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised by reason of fraud or any willful- … See more
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WebCompany 'A' has the liability of GST of Rs.5,00,000/- to be payable by 20.02.2024 (due date for payment of tax). However, Company 'A' was unable to pay the said self-assessed tax and such tax was paid on 20.04.2024. ... The mandatory penalty as prescribed under section 73(11) would be applicable whenever there is delay in payment of self ... Web17 Dec 2024 · (4) The service of statement under sub-section (3) shall be deemed to be service of notice under sub-section (1) of section 73, subject to the condition that the grounds relied upon in the said statement, except the ground of fraud, or any wilful-misstatement or suppression of facts to evade tax, for periods other than those covered … saint benedict church carrolltown
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Web17 Dec 2024 · 28th May 2024 According to the outcome of the 43rd GST Council meeting, GSTR-9 would remain optional for taxpayers with a turnover of up to Rs.2 crore, while GSTR-9C will be self-certified by taxpayers with a turnover of less than or equal to Rs.5 crore starting in FY 2024-21.. 1st February 2024 Union Budget 2024: The GST law no longer … Web15 hours ago · Petitioners have also taken a plea that Summary of the Order contained in Form GST DRC-07 imposes 100% penalty which is impermissible under the provisions of Section 73(9) of the Act of 2024. 100% penalty can only be levied in a proceeding u/s. 74 (9) of the Act of 2024. No adjudication order has been uploaded. Web27 Sep 2024 · Sub-section 5 of section 73 of the CGST Act, 2024 provides that if any person chargeable with tax wants to pay the amount of tax along with interest under section 50 … saint benedict church hialeah