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 of Tripura GST Act: Addressing Tax Discrepancies Due to Fraud or Misstatement, with Penalties and Interest Provisions.

Section 74 of the Tripura Goods and Services Tax Act, 2017, addresses tax discrepancies due to fraud, misstatement, or suppression. If a proper officer suspects unpaid, short-paid, or erroneously refunded tax, or wrongly availed input tax credit, they must serve a notice to the liable person, demanding payment with interest and a penalty. The notice must be issued six months before the order's time limit. The liable person can pay the tax with interest and a reduced penalty before the notice is served to avoid further proceedings. Orders must be issued within five years, and proceedings conclude upon payment of specified amounts.