Section 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 wilful misstatement or suppression of facts
Assam Goods and Services Tax Act, 2017 Chapter XV DEMANDS AND RECOVERY
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Fraudulent tax evasion triggers show-cause notice, interest and penalty with staged settlement opportunities and a statutory limitation period. Where tax is unpaid, short paid, erroneously refunded, or input tax credit wrongly availed by reason of fraud or wilful misstatement or suppression of ... Summary
Fraudulent tax evasion triggers show-cause notice, interest and penalty with staged settlement opportunities and a statutory limitation period.
Where tax is unpaid, short paid, erroneously refunded, or input tax credit wrongly availed by reason of fraud or wilful misstatement or suppression of facts, the proper officer shall serve a show-cause notice requiring payment of the specified tax with interest and a penalty equivalent to tax. The taxpayer may pre-empt or settle proceedings by paying tax, interest and specified reduced penalties at prescribed stages; the officer shall determine amounts after considering representations and must issue the order within the statutory limitation period measured from the annual return due date or from the date of erroneous refund.
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