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Assessment, Offences & Penalties Under GST: Ca Saurabh Punyani
Assessment, Offences & Penalties Under GST: Ca Saurabh Punyani
& PENALTIES
UNDER GST
CA SAURABH PUNYANI
B.COM, L.L.B., FCA, DISA, CCA
M NO. 9423680948, E-MAIL : [email protected]
SELF ASSESSMENT
YAAR…..SAB KAAM MUJHE HI
KARNA PADTA HAI….!!!
VALUE RATE
Calculating the Classifying the
transaction value goods/services
To proper officer requesting for payment of tax on provisional basis with reasons
Commissioner by
maximum up to further 4
years
Provisional Assessment – Interest on Differential Tax
Differential Tax to be
Tax Determined in Tax already paid claimed as refund with
Final Assessment provisionally interest @ not
exceeding 6%
SCRUTINY OF RETURNS
The Proper officer may scrutinize the returns and inform the tax payer for
any discrepancy noticed and seek his explanation.
- Audit by departmental
audit team
Not Received / - Audit by Chartered
Received but Accountant or Cost
accountant
Not
- Inspection, Search or
Satisfactory Seizure
In case within 30 days - Proceedings for demand
explanation is and recovery of tax
No further
Satisfactory
action
ASSESSMENT OF OF RETURN
If a registered person fails to file any of the returns, the proper officer may serve a notice
to file return within 15 days of service of the notice
Specific Penalty imposed on any person who has not paid tax or
makes short payment of tax on supplies u/s 122(2) shall be higher of
INFORMATION RETURN IS
Return to be filed by various government authorities within
prescribed time u/s 150
25,000/-
SEC 126 : GENERAL DECIPLINES RELATING TO PENALTY
(TO BE FOLLOWED BY OFFICERS)
The section provides for general disciplines to be followed by the officer imposing penalty
under the act. The disciplines to be followed are:
No penalty should be imposed without issuance of SCN or proper opportunity of being
heard as against the natural rule of justice
No penalty should be imposed without considering the totality of the facts
The penalty imposed must be commensurate with degree of severity of offence
Nature of breach is to be mentioned clearly in the order of penalty to be issued
The provisions under which the penalty has been imposed should be mentioned
specifically
No penalty should be imposed in case of minor breach
( Tax involved < Rs.5,000/- )
No penalty for any procedural lapse or mistake easily rectifiable made without
fraudulent intent & which can be seen apparently on the face of the record
SEC 129 : DETENTION, SEIZURE & RELEASE OF GOODS &
CONVEYANCES IN TRANSIT
Sec 132 of the act lists offences which warrant institution of criminal
proceedings & prosecution. The offences enumerated in section are
as follows:
× Making supply without invoice or with false or incorrect invoice
× Issuing an invoice without making any supply
× Not paying tax collected for a period exceeding 3 months
× Availing / utilizing ITC without actual receipt of goods &/or services
× Fraudulently obtaining any refund
× Obstructing or preventing any official in discharge of his duty
× Supplying / transporting / storing any goods liable for
confiscation
× Furnishing false information or falsification of financial records
or furnishing of fake accounts / documents with intent to
evade tax
× Receiving / dealing with supply of service in contravention of
the act
× Tampering or destroying any material evidence
× Failing to supply any information required under the act / rules
or supplying false information
× Attempting to commit or abetting the commission of any of
the above offences
PUNISHMENTS UNDER SECTION 132
Tax evaded between Rs.2 Crore to Rs.5 crore 3 years and Bailable
Tax evaded between Rs.1 Crore to Rs.2 crore 1 years and Bailable
Upto 6 months
Compilation of
Where a person statistical data &
either officer / other information Willfully discloses
government Engaged in the information Or
servant or any otherwise than in
other person or execution of his Fine Upto 25,000/-
agent of above duties
persons Provision of service Or
of common portal
Both
The section provides for relevancy of statements made & signed by person on
appearance in response to any summons