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 GST Act: Recovery of Unpaid Taxes, Erroneous Refunds, or Wrong Credits Due to Fraud or Misstatement

Section 74 of the Uttarakhand Goods and Services Tax Act, 2017, addresses the recovery of unpaid or short-paid taxes, erroneous refunds, or wrongly availed input tax credits due to fraud, misstatement, or suppression of facts. The proper officer must issue a notice to the liable person, requiring them to justify why they should not pay the specified amount with interest and penalties. The notice must be served at least six months before the order's time limit. If the taxpayer pays the due amount with interest and a reduced penalty before the notice, proceedings are concluded. Final orders must be issued within five years, and proceedings conclude if payment is made within thirty days of the order with an increased penalty.