PENALTY FOR CERTAIN OFFENCES IN скачать в хорошем качестве

PENALTY FOR CERTAIN OFFENCES IN

122(1A): Any person who retains the benefit of a transaction covered under clauses (i), (ii), (vii) or clause (ix) of sub-section (1) and at whose instance such transaction is conducted, shall be liable to a penalty of an amount equivalent to the tax evaded or input tax credit availed of or passed on. 122(2): Any registered person who supplies any goods or services or both on which any tax has not been paid or short-paid or erroneously refunded, or where the input tax credit has been wrongly availed or utilised,- (a) for any reason, other than the reason of fraud or any wilful misstatement or suppression of facts to evade tax, shall be liable to a penalty of- 1. Rs. 10,000/- or 2. 10% of the tax due from such person, whichever is higher; (b) for reason of fraud or any wilful misstatement or suppression of facts to evade tax, shall be liable to a penalty equal to- 1. Rs. 10,000 or 2. the tax due from such person, whichever is higher.