https://www.taxtmi.com/article/detailed?id=12838 Section 74A consolidates assessment and recovery procedures by authorising determination where tax is unpaid, short-paid, erroneously refunded, or input tax credit wrongly availed, irrespective of whether fraud is alleged, while retaining enhanced penalties for fraud or willful misstatement. It prescribes a fixed limitation period for issuing show cause notices from the annual return due date or erroneous refund date, introduces a monetary threshold for notices, provides timelines and limited commissioner-approved extensions for passing orders, and preserves mechanisms for voluntary payment, deemed closure, and further notice where payments fall short. en-us Mon, 05 Aug 2024 13:03:19 +0530 Mon, 05 Aug 2024 13:03:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12838 Section 74A consolidates assessment and recovery procedures by authorising determination where tax is unpaid, short-paid, erroneously refunded, or input tax credit wrongly availed, irrespective of whether fraud is alleged, while retaining enhanced penalties for fraud or willful misstatement. It prescribes a fixed limitation period for issuing show cause notices from the annual return due date or erroneous refund date, introduces a monetary threshold for notices, provides timelines and limited commissioner-approved extensions for passing orders, and preserves mechanisms for voluntary payment, deemed closure, and further notice where payments fall short. Articles Goods and Services Tax - GST Mon, 05 Aug 2024 13:03:19 +0530 https://www.taxtmi.com/article/detailed?id=12838