Determination of tax defaults establishes notice procedures, strict timelines, and scaled penalties with staged settlement options. Section 74A governs determination of tax not paid or short paid, erroneous refunds, and wrongly availed input tax credit for Financial Year 2024-25 onwards by prescribing notice and show-cause procedures, limitation periods for issuing notices and adjudication, an extension mechanism for issuing orders, graded penalties for ordinary non-compliance and for fraud or wilful misstatement, monetary threshold for issuance of notices, and staged settlement options allowing payment of tax with interest and reduced or no penalty within specified windows.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Determination of tax defaults establishes notice procedures, strict timelines, and scaled penalties with staged settlement options.
Section 74A governs determination of tax not paid or short paid, erroneous refunds, and wrongly availed input tax credit for Financial Year 2024-25 onwards by prescribing notice and show-cause procedures, limitation periods for issuing notices and adjudication, an extension mechanism for issuing orders, graded penalties for ordinary non-compliance and for fraud or wilful misstatement, monetary threshold for issuance of notices, and staged settlement options allowing payment of tax with interest and reduced or no penalty within specified windows.
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