Section 122 - Penalty for certain offences.

Penalty for GST offences: specified monetary or tax linked sanctions apply for mis invoicing, wrongful credit or fraudulent refunds.

The Act prescribes financial penalties for a range of GST offences including mis invoicing, issuing invoices without supply, collecting tax but failing to remit it within the prescribed period, failure to deduct or collect tax, wrongful availment or distribution of input tax credit, fraudulent refund claims, falsifying records, failing to register or furnish correct particulars, obstructing officers, transporting taxable goods without required documents, suppression of turnover, and tampering with evidence; penalties are the greater of a specified monetary amount or amounts equivalent to the tax evaded, not deducted, not collected, irregularly availed credit, or fraudulently claimed refund.