Supreme Court Awards Rs. 6 Lakh to Man Acquitted After 6 Years, Faults UP Police Probe  ||  Supreme Court: High Courts Can Restore Power on 50% Deposit in Arbitrary Theft Assessments  ||  Supreme Court: Cooperative Society Cannot Deny RTI Records as Personal if Registrar Can Access Them  ||  SC: CoC Cannot Withdraw Approved Resolution Plan Over Improved Corporate Debtor Finances  ||  Delhi High Court: 24-Week Limit Alone Cannot Restrict Medical Termination of Pregnancy  ||  Allahabad High Court Rejects Challenge to 18% GST on Online Legal Database Services  ||  Madras High Court: FIR Registration Does Not Decide Guilt; Prior Hearing of Accused Not Required  ||  Kerala High Court Orders Speedy Prosecution Sanction Process in Sabarimala Gold Theft Case  ||  Allahabad HC: Missing RT-PCR Report Cannot Bar COVID-19 Compensation if Records Confirm Infection  ||  MP High Court Directs Indore Police to Deploy Volunteers for Reporting Noise Pollution Violations    

# 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