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 Punjab GST Act: Addressing Unpaid or Erroneously Refunded Taxes Due to Fraud or Misstatement

Section 74 of the Punjab Goods and Services Tax Act, 2017 addresses the determination of unpaid, short-paid, or erroneously refunded taxes, or wrongly availed input tax credit due to fraud, misstatement, or suppression of facts. The proper officer must notify the liable party to show cause for non-payment, including interest and penalties. The notice must be issued at least six months before the time limit for order issuance. If the taxpayer pays the due amount with interest and a penalty within specified periods, proceedings may be concluded. The proper officer must issue an order within five years from the relevant financial period.