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TMI BlogPenalty for certain offences [ Section 122 ]X X X X Extracts X X X X X X X X Extracts X X X X ..... cts 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) thereof, the amou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 of the following the tax evaded or the tax not d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... person exempted from obtaining registration under this Act, shall be liable to pay a penalty of, higher of the following 10,000/- rupees, or an amount equivalent to the amount of tax involved had such supply been made by a registered person other than paying tax under section 10. [ Section 122(1B) , Inserted by F.A. 2023 ) Penalty for supply of goods/service for non/short payment of tax etc. As per Section 122(2 ) any registered person who supplies any goods or services or both on which tax has not been paid or short-paid or erroneously refunded, or where the input tax credit has been wrongly availed or utilised: (a) for any reason, other than the reason of fraud or any wilful misstatement or suppression of facts to evade tax, shall be lia ..... X X X X Extracts X X X X X X X X Extracts X X X X
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