https://www.taxtmi.com/notifications?id=147353 Tax determination for financial year 2024-25 onwards is governed by section 74A for unpaid or short-paid tax, erroneous refunds, and wrongly availed or utilised input tax credit. Notices must generally be issued within forty-two months, and orders within twelve months, subject to a limited extension. Penalties differ between ordinary defaults and fraud, wilful misstatement, or suppression. In ordinary cases, payment of tax and interest before notice prevents notice and penalty, while payment within sixty days after notice avoids penalty. Fraud cases permit conclusion on payment of tax, interest, and specified penalties at pre-notice, post-notice, or post-order stages. en-us Tue, 18 Mar 2025 00:00:00 +0530 Thu, 15 Oct 2026 18:18:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=147353 Tax determination for financial year 2024-25 onwards is governed by section 74A for unpaid or short-paid tax, erroneous refunds, and wrongly availed or utilised input tax credit. Notices must generally be issued within forty-two months, and orders within twelve months, subject to a limited extension. Penalties differ between ordinary defaults and fraud, wilful misstatement, or suppression. In ordinary cases, payment of tax and interest before notice prevents notice and penalty, while payment within sixty days after notice avoids penalty. Fraud cases permit conclusion on payment of tax, interest, and specified penalties at pre-notice, post-notice, or post-order stages. Notifications GST - States Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/notifications?id=147353