https://www.taxtmi.com/acts?id=39788 Penalty is prescribed where a person obtains an invoice by fraud, collusion, wilful misstatement, or suppression of facts and uses the resulting input tax credit to discharge duty or tax on goods entered for export under a claim for refund. The person is liable to a penalty not exceeding five times the refund claimed. The term input tax credit carries the meaning assigned under the Central Goods and Services Tax Act, 2017. en-us Fri, 02 Apr 2021 18:00:43 +0530 Tue, 26 May 2026 16:53:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=39788 Penalty is prescribed where a person obtains an invoice by fraud, collusion, wilful misstatement, or suppression of facts and uses the resulting input tax credit to discharge duty or tax on goods entered for export under a claim for refund. The person is liable to a penalty not exceeding five times the refund claimed. The term input tax credit carries the meaning assigned under the Central Goods and Services Tax Act, 2017. Act-Rules Customs Fri, 02 Apr 2021 18:00:43 +0530 https://www.taxtmi.com/acts?id=39788