TMI BlogDemand by reason of fraud or any wilfull-misstatement or suppression of facts [Section 74]X X X X Extracts X X X X X X X X Extracts X X X X ..... s that where it appears to the proper officer that by reason of fraud/mis-statement/ suppression of facts to evade tax, tax has not been paid or short paid or erroneously refunded, or where input tax credit has been wrongly availed or utilised for, the proper officer shall issue a show cause notice(SCN) as to why the amount of tax should not be paid alongwith interest and penalty leviable thereon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Where a notice has been issued for any period on a person chargable with tax and same default in some other period also, instead of issuing a detailed notice, a mere statement containing the details of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for such periods can issued. [Section 74(3)] The serv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , no notice shall be issued with respect to the tax so paid. The proper officer is of the opinion that the amount paid is falls short of the amount actually payable, he shall proceed to issue the notice in respect of such amount which falls short of the amount actually payable. and Penalty determined as according to provision mentioned under section 74(8) of CGST Act. I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... after 30 days of communication of adjudicating order the noticee makes payment of tax along with interest and with penalty equal to 50 % of such tax within 30 days of communicate of notice Procedure for issue of Notice and order for demand of amounts payable under the Act to be read in reference to Rule 142 - Manuals - Ready reckoner - Law and practice - Reference Gui ..... X X X X Extracts X X X X X X X X Extracts X X X X
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