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.
Meghalaya Goods and Services Tax Act, 2017 Chapter XV DEMANDS AND RECOVERY
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Fraud-based tax determination permits show-cause notice requiring payment with interest and penalties, with staged settlement windows. Where tax is unpaid or wrongly refunded or input tax credit wrongly availed by reason of fraud, wilful misstatement or suppression of facts, the proper ... Summary
Fraud-based tax determination permits show-cause notice requiring payment with interest and penalties, with staged settlement windows.
Where tax is unpaid or wrongly refunded or input tax credit wrongly availed by reason of fraud, wilful misstatement or suppression of facts, the proper officer may issue a show-cause notice requiring payment of the tax, interest and a penalty equivalent to the tax; a detailed statement may be served as deemed notice for related periods if grounds (other than fraud) repeat; voluntary pre-notice and staged post-notice payment options with prescribed reduced penalties can conclude proceedings, and the officer must determine and issue an order within the statutory limitation after considering representations.
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