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of <h1>New Guidelines for GST Section 74: Show Cause Notices, Penalties, and Procedures for Tax Demands Until 2023-24</h1> The the procedures under Section 74 of the GST Act for addressing tax demands due to fraud, willful misstatement, or suppression of facts for periods up to the financial year 2023-24. It mandates issuing a show cause notice (SCN) when tax has not been paid or wrongly refunded. The SCN must be issued six months before the adjudication deadline, which is five years from the relevant financial year's end. Voluntary payment before SCN issuance incurs a 15% penalty, while post-SCN payments attract higher penalties. Specific notifications and circulars clarify procedures and penalties for fake invoices and other violations.
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