Calcutta HC Disqualifies Politician Mukul Roy from Assembly under Anti-Defection Law  ||  Supreme Court Bans Mining in and Around National Parks and Wildlife Sanctuaries  ||  Supreme Court Terms Delay in Framing Charges for 4 Years in Maharashtra Case ‘Shocking’  ||  Kerala High Court: Widow’s Remarriage No Bar to Compassionate Appointment  ||  Delhi HC: Child Care Leave Not Absolute but Cannot Be Denied Arbitrarily  ||  Bombay HC: Furnace Oil Not Part of ‘Plant & Machinery’, No Complete Sales Tax Set-Off  ||  MP HC: Injury Not Required to Prove Attempt to Murder  ||  Supreme Court: Tenant Must Pay Rent Despite Appeal Against Fixation Order Without Stay  ||  Supreme Court: Counterclaim under Order 8 Rule 6A CPC Allowed Only Against Plaintiff  ||  SC: Externally Procured Parts Given For Assembly, Not Used in Manufacture, Not Liable to Excise Duty    

# GST Changes Applicable From 01.01.2021: Penalty for Beneficiaries of Fake Invoicing Introduced - (29 Dec 2020)

GOODS AND SERVICES TAX

Finance Act, 2020 has introduced new sub-section (1A) in Section 122 wherein it has been proposed that a person who retains the benefit of certain transactions related to fake invoicing and at whose instance such transactions are conducted shall also be liable to the penalty of an amount equivalent to the tax evaded or input tax credit availed of or passed on.

Tags : FINANCE ACT   2020   CENTRAL GOODS AND SERVICES ACT   2017   PENALTY   FAKE INVOICING  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved