https://www.taxtmi.com/forum/issue?id=118917 The discussion focuses on penalty under Section 122(1)(ii) for issuing invoices without supply where no wrongful input tax credit arises, contrasting the Board's circular treating certain non fraud transactions as attracting a nominal flat penalty with practitioner views that alternative sub sections may warrant higher penalties. It also examines the interaction with adjudication under Sections 73 and 74, particularly Explanation 1 to Section 74 which deems proceedings against other persons to be concluded when proceedings against the principal are concluded, and queries the scope of statutory immunity for secondary actors and the consistency of the CBIC circular with these deeming and non duplication provisions. en-us Mon, 25 Dec 2023 18:36:59 +0530 Fri, 24 Jan 2025 10:40:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118917 The discussion focuses on penalty under Section 122(1)(ii) for issuing invoices without supply where no wrongful input tax credit arises, contrasting the Board's circular treating certain non fraud transactions as attracting a nominal flat penalty with practitioner views that alternative sub sections may warrant higher penalties. It also examines the interaction with adjudication under Sections 73 and 74, particularly Explanation 1 to Section 74 which deems proceedings against other persons to be concluded when proceedings against the principal are concluded, and queries the scope of statutory immunity for secondary actors and the consistency of the CBIC circular with these deeming and non duplication provisions. Discussion-Forum GST Mon, 25 Dec 2023 18:36:59 +0530 https://www.taxtmi.com/forum/issue?id=118917