i have purchased goods in January 2019, but after 10 month the department issued me a letter that you hve purchased goods form no existing company and the said invoice is fake. the tax involved in the said fake invoice is to be paid.
now i am ready to be paid the said tax by reversing the ITC availed by us. but the dept is saying that you have to pay the said tax in cash alongwith interest and penalty.
shall i have to pay in cash alongwith interest and penalty or i have rightly reversed the said tax.
kindly state the above with exact section or rule.
thanks
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Liability of tax against fake invoice
Replies (4)
You could have adjusted the same only before you got the Notice.
Hence As per Section 73 , read with Section 155 of CGST Act , the errunous or wrongly claimed input , the Ultimate burdon to deposit the same is on Recepient.
Yes you can file appeal for the same as prescribed in Section 107 of CGST Act
Hence As per Section 73 , read with Section 155 of CGST Act , the errunous or wrongly claimed input , the Ultimate burdon to deposit the same is on Recepient.
Yes you can file appeal for the same as prescribed in Section 107 of CGST Act
What about interest and penalty sir
Yes now 💯% need to be deposited. (After Notice)
By 100% I mean , you have to deposit interest & penalty
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