Penalty for specified tax offences imposes higher of a fixed fine or tax-equivalent sanction for evasion and related defaults. Conducts such as mis-invoicing, issuing invoices without supply, failing to remit collected tax, incorrect deduction or collection, wrongful input tax credit, fraudulent refund claims, falsification of records, failure to register or furnish true particulars, obstructing officers, transporting without prescribed documents, suppression of turnover, failure to maintain books, and tampering with evidence attract a penalty equal to a fixed sum or an amount equivalent to the tax evaded or irregularly dealt with, whichever is higher.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty for specified tax offences imposes higher of a fixed fine or tax-equivalent sanction for evasion and related defaults.
Conducts such as mis-invoicing, issuing invoices without supply, failing to remit collected tax, incorrect deduction or collection, wrongful input tax credit, fraudulent refund claims, falsification of records, failure to register or furnish true particulars, obstructing officers, transporting without prescribed documents, suppression of turnover, failure to maintain books, and tampering with evidence attract a penalty equal to a fixed sum or an amount equivalent to the tax evaded or irregularly dealt with, whichever is higher.
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