TaxTMI 
TaxTMI 
Demand in case other than fraud or any wilful-misstatement or suppression of facts pertaining to the period up to Financial Year 2023-24 [Section 73]
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....which has not been so paid or which has been so short paid or to whom the refund has erroneously been made, or who has wrongly availed or utilised input tax credit Time limit for issuance of SCN [Section 73(2),& (10)] * Time limit for issuing SCN:- The proper officer shall issue the notice under section 73(1) at least three months prior to serving order. [section 73(2)] * Time limit for issuance of Adjudication order :- As per section 73(10) time limit is within three years from the due date for furnishing of annual return for the financial year to which the tax not paid or short paid or input tax credit wrongly availed or utilised relates to or within three years from the date of erroneous refund. * Extension o....
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....erve as Deemed Notice [Section 73(3)] Where a notice has been issued for any period under section 73(1), the proper officer may serve a statement, containing the details of - * tax not paid or * short paid or * erroneously refunded * or input tax credit wrongly availed or * utilised for such periods on the person chargeable with tax. Section 73(4) The service of such statement shall be deemed to be service of notice on such person chargeable with tax, on the same grounds as stated in earlier notice.(i.e. as show cause notice). Payment of tax before issue of SCN [Section 73(5), (6), & (7)] [Voluntary Payment] * Interest on tax always paid whether specified or not in demand order * As Per section 73(5) In cas....
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....e any amount of self-assessed tax or any amount collected as tax has not been paid ; * within a period of thirty days from the due date of payment of such tax. * Determination of penalty * Section 73(9) The proper officer shall issue a order and impose the penalty equivalent to, a) 10% of tax or b) ₹ 10,000/- Whichever is higher Non-applicability of the provision of Section 73 [ Section 73(12) (w.e.f. 01.11.2024 vide N.No. 17/2024 dated 27.09.2024) [ Inserted vide Finance (No.2) Act, 2024 ] The provisions of this section shall be applicable for determination of tax pertaining to the period up to Financial Year 2023-24 Procedure for issue of Notice and order for demand of amounts payable under the Act to be read....
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....ls input tax credit on the basis of the said tax invoice. B further issues invoice along with underlying supply of goods or services or both to his buyers and utilizes ITC availed on the basis of the above mentioned invoices issued by 'A', for payment of his tax liability in respect of his said outward supplies. Whether 'B' will be liable for the demand and recovery of the said ITC, along with penal action, under the provisions of section 73 or section 74 or any other provisions of the CGST Act. * A registered person 'A' has issued tax invoice to another registered person 'B' without any underlying supply of goods or services or both. 'B' avails input tax credit on the basis of the said tax invoice and further pas....