Mandatory penalty equal to tax evaded or Rs.10,000/-whichever is higher is imposable on taxable person in following cases:-
1. supply of goods or services or both without issue of any invoice or issues an incorrect or false invoice
2. issuance of any invoice or bill without supply of goods or services or both
3. collecting any amount as tax but failing to pay the same to the Government beyond a period of three months
4. collecting any tax in contravention of the provisions of this Act and failing to pay the same to the Government beyond a period of three months
5. failing to deduct the tax at source or deducting lesser tax or failing to pay deducted tax to Government account
6. failing to collect tax at source or collecting lesser tax or failing to pay collected tax to Government
7. taking or utilizing input tax credit without actual receipt of goods or services or both either fully or partially
8. fraudulently obtaining refund
9. taking or distributing input tax credit in contravention of Section 20, or the rules made thereunder
10. falsifying or substituting financial records or producing fake accounts or documents or furnishing false information or return with an intention to evade payment of tax
11. failing to obtain registration
12. furnishing any false information with regard to registration particulars
13. obstructing or preventing any officer in discharge of his duties
14. transporting any taxable goods without the cover of prescribed documents
15. suppressing turnover leading to evasion of tax
16. failing to keep, maintain or retain books of account and other documents in prescribed manner
17. failing to furnish information or documents called for by an officer or furnishing false information or documents
18. supplies, transporting or storing any goods which he has reasons to believe are liable to confiscation
19. issuing any invoice or document by using the registration number of another registered person
20. tampering with, or destroying any material evidence or document; and
21. disposing off or tampering with any goods that have been detained, seized, or attached.
Where supply of any goods or services or both has been made on which GST has not been paid or short paid or erroneously refunded, or where the input tax credit has been wrongly availed or utilised, then such person is liable for penalty of ten thousand rupees or ten per cent of the tax, whichever is higher
Where aforesaid act is for reason of fraud or any willful misstatement or suppression of facts to evade tax, then a penalty equal to ten thousand rupees or the tax due from such person, whichever is higher shall be imposable
Any other person who aids or abets evasion by acquiring transporting, removing depositing keeping concealing, supplying, purchasing or dealing with any goods which he knows or has reasons to believe are liable to confiscation shall be liable to a penalty which may extend to twenty-five thousand rupees
Any person who receives or is in any way concerned with the supply of, or in any other manner deals with any supply of services which he knows or has reasons to belief are in contravention of GST law, shall be liable to a penalty which may extend to twenty five thousands rupees.
Any person who fails to appear before concerned officer when issued with a summon for appearance to give evidence or produce a document in an inquiry shall be liable to a penalty which may extend to twenty-five thousand rupees.
Any person who fails to issue invoice in accordance with the provisions of GST law or fails to account for an invoice in his books of account, shall be liable to a penalty which may extend to twenty-five thousand rupees.
Penalty for failure to furnish information return will be one hundred rupees for each day of the period during which the failure to furnish such return continues subject to maximum of 25000/-
Fine for failure to furnish statistics under Section 151 may extend to ten thousand rupees and in case of a continuing offence to a further fine which may extend to one hundred rupees for each day after the first day during which the offence continues subject to a maximum limit of twenty five thousand rupees.
General penalty for offences where penalty not specified would be maximum twenty-five thousand rupees.
No penalty
Minor breaches of tax regulations or procedural requirements and in particular, any omission or mistake in documentation which is easily rectifiable and made without fraudulent intent or gross negligence, shall not attract any penalty.
1. supply of goods or services or both without issue of any invoice or issues an incorrect or false invoice
2. issuance of any invoice or bill without supply of goods or services or both
3. collecting any amount as tax but failing to pay the same to the Government beyond a period of three months
4. collecting any tax in contravention of the provisions of this Act and failing to pay the same to the Government beyond a period of three months
5. failing to deduct the tax at source or deducting lesser tax or failing to pay deducted tax to Government account
6. failing to collect tax at source or collecting lesser tax or failing to pay collected tax to Government
7. taking or utilizing input tax credit without actual receipt of goods or services or both either fully or partially
8. fraudulently obtaining refund
9. taking or distributing input tax credit in contravention of Section 20, or the rules made thereunder
10. falsifying or substituting financial records or producing fake accounts or documents or furnishing false information or return with an intention to evade payment of tax
11. failing to obtain registration
12. furnishing any false information with regard to registration particulars
13. obstructing or preventing any officer in discharge of his duties
14. transporting any taxable goods without the cover of prescribed documents
15. suppressing turnover leading to evasion of tax
16. failing to keep, maintain or retain books of account and other documents in prescribed manner
17. failing to furnish information or documents called for by an officer or furnishing false information or documents
18. supplies, transporting or storing any goods which he has reasons to believe are liable to confiscation
19. issuing any invoice or document by using the registration number of another registered person
20. tampering with, or destroying any material evidence or document; and
21. disposing off or tampering with any goods that have been detained, seized, or attached.
Where supply of any goods or services or both has been made on which GST has not been paid or short paid or erroneously refunded, or where the input tax credit has been wrongly availed or utilised, then such person is liable for penalty of ten thousand rupees or ten per cent of the tax, whichever is higher
Where aforesaid act is for reason of fraud or any willful misstatement or suppression of facts to evade tax, then a penalty equal to ten thousand rupees or the tax due from such person, whichever is higher shall be imposable
Any other person who aids or abets evasion by acquiring transporting, removing depositing keeping concealing, supplying, purchasing or dealing with any goods which he knows or has reasons to believe are liable to confiscation shall be liable to a penalty which may extend to twenty-five thousand rupees
Any person who receives or is in any way concerned with the supply of, or in any other manner deals with any supply of services which he knows or has reasons to belief are in contravention of GST law, shall be liable to a penalty which may extend to twenty five thousands rupees.
Any person who fails to appear before concerned officer when issued with a summon for appearance to give evidence or produce a document in an inquiry shall be liable to a penalty which may extend to twenty-five thousand rupees.
Any person who fails to issue invoice in accordance with the provisions of GST law or fails to account for an invoice in his books of account, shall be liable to a penalty which may extend to twenty-five thousand rupees.
Penalty for failure to furnish information return will be one hundred rupees for each day of the period during which the failure to furnish such return continues subject to maximum of 25000/-
Fine for failure to furnish statistics under Section 151 may extend to ten thousand rupees and in case of a continuing offence to a further fine which may extend to one hundred rupees for each day after the first day during which the offence continues subject to a maximum limit of twenty five thousand rupees.
General penalty for offences where penalty not specified would be maximum twenty-five thousand rupees.
No penalty
Minor breaches of tax regulations or procedural requirements and in particular, any omission or mistake in documentation which is easily rectifiable and made without fraudulent intent or gross negligence, shall not attract any penalty.
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