Supreme Court: Appellate Courts Cannot Overturn Trial Court Verdicts Without Independent Reasons  ||  Supreme Court Acquits Three Men in 1979 Murder Case, Finding Serious Flaws in the Prosecution Case  ||  Supreme Court: Magistrate Cannot Order Filing of Chargesheet After Police Submit Closure Report  ||  Supreme Court: Landowners Cannot Claim Denial of Hearing After Failing to Avail the Opportunity  ||  Supreme Court: Property in Sale Deed Cannot Be Altered by Rectification Without Transferor's Consent  ||  Ahead of Rath Yatra, Orissa High Court Stays Release of 'Mahaprabhu Jagannath' Over Peace Concerns  ||  Gujarat High Court: Ancient Hindu Law Did Not Recognise Adoption of Girls Before HAMA  ||  Bombay High Court Orders DGP to Assess CCTV Systems and Footage Preservation at Police Stations  ||  Allahabad HC: Mother Receiving Maintenance from Real Son Cannot Claim it from Step-Son  ||  CCPA Imposes Rs.1 Lakh Penalty on SpiceJet Over Dark Patterns Used for Loyalty Programme Consent    

# 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 2026 - All Rights Reserved