TaxTMI 
TaxTMI 
Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason pertaining to Financial Year 2024-25 onward [ Section 74A ]
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....en wrongly availed or utilised, he shall serve notice on the person chargeable with tax 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. Contain of Show cause Why he should not pay the amount specified in the notice along with interest payable thereon under section 50 and A penalty leviable under the provisions of this Act or the rules made thereunder. No notice shall be issued, if the tax which has not been paid or short paid or erroneously refunded or where input tax credit has been wrongly availed or utilised in a financial year is less than Rs. 1,000/-. Time limit for issuing sh....
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.... due from such person or ten thousand rupees, whichever is higher; (ii) for the reason of fraud or any wilful-misstatement or suppression of facts to evade tax shall be equivalent to the tax due from such person. Determination of Tax, Interest, and Penalty by Proper Officer [ Section 74A(6) ] The proper officer shall, after considering the representation, if any, made by the person chargeable with tax, determine the amount of tax, interest and penalty due from such person and issue an order. Time limit for issuing Order [ Section 74A(7) ] The proper officer shall issue the order under section 74A(6) within twelve months from the date of issuance of notice specified in section 74A(2). Authority ....
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....e thereunder; (ii) After service of notice u/s 74A(1) - pay the said tax along with interest payable under section 50 within sixty days of issue of show cause notice, and on doing so, no penalty shall be payable and all proceedings in respect of the said notice shall be deemed to be concluded. Procedures of Tax Payment and Penalty in case of Fraud or wilful-misstatement or suppression [ Section 74A(9) ] The person chargeable with tax, where any tax has not been paid or short paid or erroneously refunded or where input tax credit has been wrongly availed or utilised by reason of fraud, or any wilful-misstatement or suppression of facts to evade tax, may,-- (i) Payment made before service of no....
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....ich falls short of the amount actually payable. Penalty for Failure to Pay Self-Assessed or Collected Tax Within 30 Days [ Section 74A(11) ] Notwithstanding anything contained in clause (i) or clause (ii) of u/s 74A(8), penalty under clause (i) of u/s 74A(5) shall be payable where 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. Applicability of the this Section [ Section 74A(12) ] The provisions of this section shall be applicable for determination of tax pertaining to the Financial Year 2024-25 onwards. For the purposes of this section,-- (i) the expression "all proceedings in respect of the said not....
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....on of demand, because the defence and objection process can be left incomplete. [ M/s Sai Auto Mobiles Versus Commissioner Central Goods Service Tax And Central Excise And 2 Others 2026 (6) TMI 1055 - Allahabad High Court ] • The High Court set aside the order passed under Section 74 for Financial Year 2023-24 on the ground that, after 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 ]&....