https://www.taxtmi.com/forum/issue?id=116286 Section 122 separates penalty regimes: subsection (1) targets specified culpable acts such as false invoices, fraudulent refunds and misuse of input tax credit and prescribes a penalty tied to the tax evaded or irregularly passed on; subsection (2) imposes a two-tier penalty on registered persons for wrongful non-payment, short payment, erroneous refund or wrongful ITC availment, with lesser penalties for non-fraudulent cases and full-tax-linked penalties where fraud or wilful misstatement or suppression is involved. An amendment imposes additional liability on persons who retain benefits of transactions covered by certain subsection (1) clauses. en-us Mon, 11 May 2020 17:56:45 +0530 Thu, 23 Jan 2025 15:54:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116286 Section 122 separates penalty regimes: subsection (1) targets specified culpable acts such as false invoices, fraudulent refunds and misuse of input tax credit and prescribes a penalty tied to the tax evaded or irregularly passed on; subsection (2) imposes a two-tier penalty on registered persons for wrongful non-payment, short payment, erroneous refund or wrongful ITC availment, with lesser penalties for non-fraudulent cases and full-tax-linked penalties where fraud or wilful misstatement or suppression is involved. An amendment imposes additional liability on persons who retain benefits of transactions covered by certain subsection (1) clauses. Discussion-Forum GST Mon, 11 May 2020 17:56:45 +0530 https://www.taxtmi.com/forum/issue?id=116286