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 of Meghalaya GST Act: Addressing Tax Evasion, Erroneous Refunds, and Input Credit Issues with Penalties and Notices.

Section 74 of the Meghalaya Goods and Services Tax Act, 2017 addresses the determination of unpaid or short-paid taxes, erroneous refunds, or wrongly availed input tax credits due to fraud, willful misstatement, or suppression of facts. It mandates that a proper officer issue a notice to the taxpayer, requiring them to justify why they should not pay the specified amount, including interest and penalties. Taxpayers can settle the tax with reduced penalties before or after receiving the notice. The officer must issue a final order within five years from the relevant financial year's due date. Proceedings conclude upon payment within specified periods.