TaxTMI 
TaxTMI 
VIOLATION OF RULE 86B LIABLE FOR GENERAL PENALTY OR FURTHER PAY TAX BY CASH?
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....IOLATION OF RULE 86B LIABLE FOR GENERAL PENALTY OR FURTHER PAY TAX BY CASH?<br> Query (Issue) Started By: - BARUN MUKHERJEE Dated:- 26-6-2025 Last Reply Date:- 29-6-2025 Goods and Services Tax - GST<b....
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....r>Got 2 Replies<br>GST<br>Respected experts, A taxpayer had inadvertently disbursed his tax liability by utilizing 100% ITC instead of utilizing of 99% ITC. Now this discrepancy has been identified b....
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....y GST Dept. during Audit and demanded 1% tax liability by cash along with interest and penalty in compliance with Rule 86B. Now my question is that as the tax payer had already paid the tax by ut....
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....ilizing 100% ITC which was violation of Rule 86B, Dept. can demand further 1% tax by cash along with interest or impose only general penalty u/s 125? Reply By Shilpi Jain: The Reply: Considering thi....
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....s condition is valid, can demand. Pay and adjust the excess tax paid in subsequent periods. However in one of the decisions it has been noted to be ultra vires though not final. AM Enterprises 2024....
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.... (9) TMI 1485 - HIMACHAL PRADESH HIGH COURT Reply By KASTURI SETHI: The Reply: Can demand further 1% tax by cash along with interest or impose only general penalty u/s 125 ? Ans. YES for....
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.... both queries.<br> Discussion Forum - Knowledge Sharing ....