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.

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. https://www.taxtmi.com/acts?id=25595 Where tax shortfall or wrongful refund or wrongly availed input tax credit results from fraud or wilful misstatement or suppression of facts, the proper officer issues a show cause notice requiring payment of the specified tax with interest and a penalty equal to the tax. A taxpayer may preempt notice by voluntarily paying tax, interest and a reduced penalty and notifying the officer; if so notified, no notice will be issued for that amount, though the officer may issue notice for any shortfall and must issue a determinative order within the Act's limitation period. en-us Mon, 12 Jun 2017 15:00:23 +0530 Thu, 15 Jun 2017 12:56:36 +0530 TaxTMI RSS Generator 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. https://www.taxtmi.com/acts?id=25595 Where tax shortfall or wrongful refund or wrongly availed input tax credit results from fraud or wilful misstatement or suppression of facts, the proper officer issues a show cause notice requiring payment of the specified tax with interest and a penalty equal to the tax. A taxpayer may preempt notice by voluntarily paying tax, interest and a reduced penalty and notifying the officer; if so notified, no notice will be issued for that amount, though the officer may issue notice for any shortfall and must issue a determinative order within the Act's limitation period. Act-Rules GST - States Mon, 12 Jun 2017 15:00:23 +0530 https://www.taxtmi.com/acts?id=25595