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Penalty on Rule 86B, Goods and Services Tax - GST

Issue Id: - 117705
Dated: 16-12-2021
By:- NARENDER YARRAGORLA
Penalty on Rule 86B

  • Contents

What is the penalty for breaching of Rule 86b? and If breaching continues by en number of months the penalty will change?

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1 Dated: 17-12-2021
By:- KASTURI SETHI

Equal to the tax evaded or input tax credit availed irregularly.

Extract of Section 122 of CGST Act. Below (xxi).

he shall be liable to pay a penalty of ten thousand rupees or an amount equivalent to the tax evaded or the tax not deducted under section 51 or short deducted or deducted but not paid to the Government or tax not collected under section 52 or short collected or collected but not paid to the Government or input tax credit availed of or passed on or distributed irregularly, or the refund claimed fraudulently, whichever is higher.

If any tax payer commits offence of the same nature again next month, afresh penalty will be imposed.


2 Dated: 17-12-2021
By:- KASTURI SETHI

Minimum penalty ₹ 10,000/- and maximum penalty equal to the tax evaded, whichever is higher. It is one time penalty for one offence. It is not recurring.


1

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