WebAs per sub-rule (5) of Rule 48 under the CGST Act 2024, there are the following 2 penalties in case of any discrepancies in e-Invoices-. Penalty for non-issuance of e-Invoice- 100% of the tax due or Rs.10,000 whichever is higher. Penalty for incorrect or erroneous e-Invoice is Rs.25,000. However, you can avoid the second e invoice penalties by ... WebView Penalty drop letter.docx from GST 101 at ICAI, Aurangabad. 13th January, 2024 The Asstt. Commissioner of Income Tax – 12(2)(2), Room No. 145, 1st Floor, Aayakar Bhavan, M. K. Road, Mumbai 400 ... penalty proceedings under section 270A r.w.s. 274 of the Income Tax Act were initiated by the then assessing officer for under-reporting of income.
Time Limit for Initiation of Penalty starts from the date on
WebApr 15, 2024 · Since, BOPPA Ltd. failed to fulfill the obligation, proceedings were initiated which culminated in confiscation of the goods under Section 111 (d) of the Customs Act, … WebApr 15, 2024 · GST DRC 22 is a notice issued by the GST department when they have detected any discrepancies or errors in the GST returns filed by a registered taxpayer. The notice is issued under section 73 or section 74 of the CGST Act, 2024, and requires the taxpayer to provide a reply with an explanation for the discrepancies within a specified … all golden skulltula locations
What is GST returns & types of GSTR - taxguru.in
WebMar 16, 2024 · The main goal of the assessee beneath the issuing of the bogus invoicing might consists of: The claim of the rest ITC upon bogus invoices through the recipient. GST theft and income tax and then divert the funds from the firms. To avail of the GST refund for exporters. The dept also introduced an SOP (Standard Operating Process for how to ... WebApr 11, 2024 · The penalty for failure to register under GST is equal to 10% of the tax due or Rs. 10,000, whichever is higher. This penalty can be imposed even if the taxpayer has not … WebAs per sub-rule (5) of Rule 48 under the CGST Act 2024, there are the following 2 penalties in case of any discrepancies in e-Invoices-. Penalty for non-issuance of e-Invoice- 100% of … all golden charizard