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Penalty for certain offences Section 122 - GST Ready Reckoner - GSTExtract ..... hs 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 sub-section (1) of section 51, 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 amount deducted as tax; ix. fails to collect tax in accordance with the provisions of ..... x x x x x Extracts x x x x x Penalty for certain offences Section 122 - GST Ready Reckoner - GST x x x x x Extracts x x x x x ..... 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; Penalties, fines and prosecution under GST laws The penalties leviable under the CGST Act, 2017 are summarised as under: As Per section 122(1A) & 122(1B) 1) Penalty for Evading tax 1A) Any person who ..... x x x x x Extracts x x x x x Penalty for certain offences Section 122 - GST Ready Reckoner - GST x x x x x Extracts x x x x x ..... de tax, shall be liable to a penalty of ten thousand rupees or ten per cent. of the tax due from such person, whichever is higher; (b) for reason of fraud or any wilful misstatement or suppression of facts to evade tax, shall be liable to a penalty equal to ten thousand rupees or the tax due from such person, whichever is higher. 3. 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 twenty-five thousand rupees:- i. aids or abets any of the 21 offences specified in clauses (a) or ii. acquires possession of, or in any way concerns himself in transporting, removing, depositing, keeping, concealing, supplying, or purchasing or in ..... x x x x x Extracts x x x x x Penalty for certain offences Section 122 - GST Ready Reckoner - GST x x x x x Extracts x x x x x
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