GST input wrongly availed but not utilised , and GST epartment has send notice regarding this
This query is : Resolved
14 December 2024
GST wrongly availed but not utilsed , GST department has send notice regarding this,
what will be the consequences of wrongly availed GST input from FY 2020-21 to till date.
what will be the consequences of wrongly availed GST input from FY 2020-21 to till date.
Dhirajlal Rambhia
(Expert)
15 December 2024
Under Section 122 of the GST Act, penalties can be levied for wrongly availing ITC, even if it hasn't been utilized. The penalty could be either 10% or 100% of the ITC amount depending on whether the department deems there was an intent to evade tax. This notice initiates the legal procedure where you can explain the circumstances or rectify the situation. The SCN must be responded to within the specified time frame, within 30 days,
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Intimation under section 245
- ETDS return q4 25-26
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
