Supreme Court: Breach of Contract is Not Cheating Unless Fraud Existed From the Outset  ||  Supreme Court: Specific Performance of an Agreement to Sell May be Denied After a Long Delay  ||  Supreme Court: Section 498A IPC Applies to Live-In Relationships in Nature of Marriage  ||  Supreme Court Awards Rs.83.38 Lakh to Child Left Paralysed, Stressing Impact on the Victim’s Future  ||  J&K and Ladakh High Court: Private Trust Cannot Oppose Wakf Takeover Without Legal Authority  ||  P&H HC: Courts Cannot Grant Protection to a Minor’s Live-In Relationship Prohibited By Law  ||  Chhattisgarh High Court: NEET OMR Tampering Allegations Cannot Rest on Mere Suspicion  ||  Allahabad High Court Upholds Conviction, Says a Reliable Dying Declaration Alone Can Sustain Guilt  ||  Bombay HC Criticises ITAT for Delays in Pronouncing Orders Beyond 90-Day Limit  ||  P&H High Court Criticises Punjab For Spending on Freebies and Ads While Delaying Employee Dues    

# 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