Insertion of new section 114AC.

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....nserted, namely:-- Penalty for fraudulent utilisation of input tax credit for claiming refund. '114AC. Where any person has obtained any invoice by fraud, collusion, willful misstatement or suppre....

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.... it in clause (63) of section 2 of the Central Goods and Services Tax Act, 2017 (12 of 2017).'. - Clause 87 of the Bill seeks to insert a new section 114AC in the Customs Act so as to provide penal....