https://www.taxtmi.com/article/detailed?id=10386 Section 122(2) establishes a two-tier penalty scheme for registered persons who supply goods or services where tax is unpaid, short-paid, erroneously refunded, or input tax credit wrongly availed or utilized: for non-fraudulent cases the penalty is the greater of a fixed sum or a percentage of the tax due; for cases involving fraud, willful misstatement, or suppression to evade tax the penalty is the fixed sum or the tax due, whichever is higher. A non-duplication principle bars imposing multiple penalties on the same person for the same offence under overlapping provisions. en-us Mon, 09 May 2022 08:38:38 +0530 Mon, 09 May 2022 08:38:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10386 Section 122(2) establishes a two-tier penalty scheme for registered persons who supply goods or services where tax is unpaid, short-paid, erroneously refunded, or input tax credit wrongly availed or utilized: for non-fraudulent cases the penalty is the greater of a fixed sum or a percentage of the tax due; for cases involving fraud, willful misstatement, or suppression to evade tax the penalty is the fixed sum or the tax due, whichever is higher. A non-duplication principle bars imposing multiple penalties on the same person for the same offence under overlapping provisions. Articles Goods and Services Tax - GST Mon, 09 May 2022 08:38:38 +0530 https://www.taxtmi.com/article/detailed?id=10386