TMI BlogPenalty on Rule 86BX X X X Extracts X X X X X X X X Extracts X X X X ..... What is the penalty for breaching of Rule 86b ? and If breaching continues by en number of months the penalty will change? - Reply By KASTURI SETHI - The Reply = Equal to the tax evaded or input t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax 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 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 Governmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t 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 ne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xt month, afresh penalty will be imposed. - Reply By KASTURI SETHI - The Reply = Minimum penalty ₹ 10,000/- and maximum penalty equal to the tax evaded, whichever is higher. It is one time p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enalty for one offence. It is not recurring. - Penalty on Rule 86B - Query Started By: - NARENDER YARRAGORLA Dated:- 16-12-2021 Goods and Services Tax - GST - Got 2 Replies - GST - Discussion Forum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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