Determination of tax deficiencies: new notice, settlement options and tiered penalties conclude tax proceedings. A new statutory procedure empowers the proper officer to issue show cause notices for tax not paid or short paid, erroneous refunds or wrongly availed input tax credit for periods from the stated financial year; notices must be issued within a prescribed period, statements extending the same grounds may be served, and the provision establishes tiered penalties for non fraudulent and fraudulent conduct, pre notice and post notice settlement options to conclude proceedings, and timelines with limited authorised extensions for issuance of a determination order.