TaxTMI 
TaxTMI 
Demand by reason of fraud or any willful-misstatement or suppression of facts pertaining to the period up to Financial Year 2023-24 [Section 74]
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....roper officer shall issue a show cause notice(SCN) as to why the amount of tax should not be paid alongwith interest and penalty leviable thereon under the provisions of this Act and rules made thereunder. "suppression" shall mean non-declaration of facts or information which a taxable person is required to declare in the return, statement, report or any other document furnished under this Act or the rules made thereunder, or failure to furnish any information on being asked for, in writing, by the proper officer. (w.e.f. 01.11.2024 vide N.No. 17/2024 dated 27.09.2024) [ Omitted vide Finance (No.2) Act, 2024 ] Time limit for issue Of order [Section 74(2), (3) &(4) read with Section 74(10)] Time limit to issue SCN ....
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....e if proceeding initiated under section 74 Voluntary payment before issuance of notice [section 74(5)] • The noticee liable to pay tax chargeable along with interest as per section 50 and Penalty equal to 15% of tax chargeable • such demand may be as ascertained either on his own or ascertained by the proper officer, and • on such payment, no notice shall be issued with respect to the tax so paid. • The proper officer is of the opinion that the amount paid is falls short of the amount actually payable, he shall proceed to issue the notice in respect of such amount which falls short of the amount actually payable. and • Penalty determined as according to....
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....nts payable under the Act to be read in reference to Rule 142 Important Notification & Circular • Central Government, notifies the special procedure for rectification of for Input Tax Credit Orders issued under Section 73, 74, 107, 108 which confirming demand for wrong availment of input tax credit. [ Notification No. 22/2024 - Central Tax dated 08.10.2024 ] • Proper officer under sections 73 and 74 of the Central Goods and Services Tax Act, 2017 and under the Integrated Goods and Services Tax Act. [ See Circular No. 31/05/2018 - GST dated 09.02.2018 ] • Clarification on various issues relating to applicability of demand and penalty provisions under the Central Goods and Service....
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....ds or services or both. 'B' avails input tax credit on the basis of the said tax invoice and further passes on the said input tax credit to another registered person 'C' by issuing invoices without underlying supply of goods or services or both. Whether 'B' will be liable for the demand and recovery and penal action, under the provisions of section 73 or section 74 or any other provisions of the CGST Act. • Clarification on where some of the taxpayers after voluntarily depositing GST liability through DRC-03 have alleged use of force and coercion by the officers for making 'recovery' during the course of search or inspection or investigation. [ See Instruction No. 01/202....
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....fter the earlier remand, the Assessing Officer was required to adjudicate the original show cause notice after granting personal hearing and could not issue a second show cause notice. The matter was remanded for fresh adjudication on that basis. [ M/s. B.K. Steels And The Assistant Commissioner (State Tax), Charminar Circle, Hyderabad, and another 2026 (6) TMI 1059 - Telangana High Court ] • Issuance of a single show cause notice or a single composite assessment order is not validly issued in relation to more than one tax period/financial year. [ S.J. Constructions, Suma Infra, M/s. SKS Traders, Bhaarat Scrap Traders Versus The Assistant Commissioner and Others, The Deputy Assistant Commissioner Iist and Ot....