TaxTMI 
TaxTMI 
Penalty for certain offences [ Section 122 ]
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....ax v. Collects any amount as tax, but fails to pay the same to the Government beyond a period of three months from the date on which such payment becomes due; vi. evades tax, fraudulently avails ITC or fraudulently obtains refund, where such offence or refund is not covered under (i) to (iv) above. vii. collects any tax in contravention of the provisions of this Act but fails to pay the same to the Government beyond a period of three months from the date on which such payment becomes due; viii. fails to deduct the tax in accordance with the provisions of section 51(1), or deducts an amount which is less than the amount required to be deducted under the said subsection, or where he fails to pay to the Government under sub-section (2) the....
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....tration, or subsequently Other miscellaneous offences xviii. obstructs or prevents any officer in discharge of his duties under this Act xix. transports any taxable goods without the cover of documents as may be specified in this behalf xx. fails to keep, maintain or retain books of account and other documents in accordance with the provisions of this Act or the rules made thereunder; xxi. fails to furnish information or documents called for by an officer in accordance with the provisions of this Act or the rules made thereunder or furnishes false information or documents during any proceedings under this Act; he shall be liable to pay a penalty of, higher of the following a) Rs. 10,000/- or b) an amount equivalent to, any....
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....ions are conducted, shall also be liable for penal action under the provisions of the said sub-section. It may also be noted that in such cases of wrongful/ fraudulent availment or utilization of input tax credit, or in cases of issuance of invoices without supply of goods or services or both, leading to wrongful availment or utilization of input tax credit or refund of tax, provisions of section 132 of the CGST Act may also be invokable, subject to conditions specified therein, based on facts and circumstances of each case." * Any electronic commerce operator who [ Any electronic commerce operator, who is liable to collect tax at source under section 52 Substituted vide Finance (No. 2) Act, 2024, w.e.f. ....
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....for reason of fraud or any wilful misstatement or suppression of facts to evade tax, * shall be liable to a penalty equal to, Higher of the following Rs. 10,000/- or the tax due from such person Penalty for aiding or abetting of offences As per Section 122(3),any person who commits any of the following offences shall be liable to a penalty which may extend to Rs. 25,000/-:- * aids or abets any of the 21 offences specified in clauses (a) or * acquires possession of, or in any way concerns himself in transporting, removing, depositing, keeping, concealing, supplying, or purchasing or in any other manner deals with any goods which he knows or has reasons to believe are liable to confiscation under this Act or the rules mad....