https://www.taxtmi.com/forum/issue?id=117411 Where a departmental GST audit finds a tax shortfall due to fraud, wilful misstatement or suppression of facts, a penalty (commonly fifteen percent in audit practice) may be levied; shortfalls for reasons other than fraud generally do not attract penalty. No penalty should be imposed without giving the person an opportunity of being heard, and an audit observation can be contested through subsequent show-cause proceedings, though contesting may risk higher penalties and added litigation costs. en-us Fri, 06 Aug 2021 07:39:40 +0530 Thu, 23 Jan 2025 15:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117411 Where a departmental GST audit finds a tax shortfall due to fraud, wilful misstatement or suppression of facts, a penalty (commonly fifteen percent in audit practice) may be levied; shortfalls for reasons other than fraud generally do not attract penalty. No penalty should be imposed without giving the person an opportunity of being heard, and an audit observation can be contested through subsequent show-cause proceedings, though contesting may risk higher penalties and added litigation costs. Discussion-Forum GST Fri, 06 Aug 2021 07:39:40 +0530 https://www.taxtmi.com/forum/issue?id=117411