https://www.taxtmi.com/acts?id=24688 Section 122(1) sets the penalty for offences as the higher of the amount of tax evaded, fraudulently obtained as refund, availed as credit, not deducted or collected, or short deducted or short collected, or a specified minimum monetary sum. Section 122(2) makes registered persons who have not paid or have short paid tax on supplies liable to a penalty equal to the higher of a percentage-based charge on the tax not paid or short paid, or the same specified minimum monetary sum. en-us Mon, 03 Apr 2017 16:38:50 +0530 Mon, 03 Apr 2017 16:38:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=24688 Section 122(1) sets the penalty for offences as the higher of the amount of tax evaded, fraudulently obtained as refund, availed as credit, not deducted or collected, or short deducted or short collected, or a specified minimum monetary sum. Section 122(2) makes registered persons who have not paid or have short paid tax on supplies liable to a penalty equal to the higher of a percentage-based charge on the tax not paid or short paid, or the same specified minimum monetary sum. Act-Rules Bills Mon, 03 Apr 2017 16:38:50 +0530 https://www.taxtmi.com/acts?id=24688