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

Section 74: Tax Liability for Fraud, Misstatement, or Suppression Under Bihar GST Act 2017; Penalties and Procedures Explained.

Section 74 of the Bihar Goods and Services Tax Act, 2017, addresses the determination of tax not paid, short paid, erroneously refunded, or input tax credit wrongly availed due to fraud, willful misstatement, or suppression of facts. It mandates the proper officer to issue a notice to the liable party, requiring them to show cause and pay the specified tax, interest, and penalty. The notice must be issued at least six months before the time limit for order issuance. The section outlines procedures for voluntary payment, subsequent notice issuance, and order determination, with specific penalties applicable for payments made within designated timeframes.