Section 132: Penalties for Tax Evasion, Fraudulent Invoices, and Obstruction Under J&K GST Act, 2017 Explained
Section 132 of the Jammu and Kashmir Goods and Services Tax Act, 2017, outlines penalties for various tax-related offenses. These include evading tax, issuing invoices without actual supply, availing input tax credit fraudulently, and obstructing tax officers. Penalties vary based on the amount involved, with imprisonment up to five years and fines for offenses exceeding five hundred lakh rupees. Repeat offenders face harsher penalties. Offenses are generally non-cognizable and bailable, except for serious violations which are cognizable and non-bailable. Prosecution requires prior sanction from the Commissioner, and "tax" includes evaded amounts under related GST Acts.
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Section 132: Penalties for Tax Evasion, Fraudulent Invoices, and Obstruction Under J&K GST Act, 2017 Explained
Section 132 of the Jammu and Kashmir Goods and Services Tax Act, 2017, outlines penalties for various tax-related offenses. These include evading tax, issuing invoices without actual supply, availing input tax credit fraudulently, and obstructing tax officers. Penalties vary based on the amount involved, with imprisonment up to five years and fines for offenses exceeding five hundred lakh rupees. Repeat offenders face harsher penalties. Offenses are generally non-cognizable and bailable, except for serious violations which are cognizable and non-bailable. Prosecution requires prior sanction from the Commissioner, and "tax" includes evaded amounts under related GST Acts.
Section 132: Penalties for Tax Evasion, Fraudulent Invoices, and Obstruction Under J&K GST Act, 2017 Explained
Section 132 of the Jammu and Kashmir Goods and Services Tax Act, 2017, outlines penalties for various tax-related offenses. These include evading tax, issuing invoices without actual supply, availing input tax credit fraudulently, and obstructing tax officers. Penalties vary based on the amount involved, with imprisonment up to five years and fines for offenses exceeding five hundred lakh rupees. Repeat offenders face harsher penalties. Offenses are generally non-cognizable and bailable, except for serious violations which are cognizable and non-bailable. Prosecution requires prior sanction from the Commissioner, and "tax" includes evaded amounts under related GST Acts.
Full Summary is availble for active users!
Note: It is a system-generated summary and is for quick
reference only.