Penalty U/s 122(1)XII

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furnishes any false information with regard to registration particulars, either at the time of applying for registration, or subsequently;


Please Clarify CGST Penalty And SGST Penalty how Much

Please Give me Explain
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On 02 January 2025 at 08:36 Report
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Master in Accounts & high court Advocate
9505 Points Joined December 2011

According to the Central Goods and Services Tax Act, 2017 (CGST Act) and the State Goods and Services Tax Act (SGST Act), furnishing false information with regard to registration particulars can attract penalties.

CGST Penalty As per Section 122(1)(c) of the CGST Act: - The penalty for furnishing false information with regard to registration particulars is ₹25,000 or an amount equivalent to the tax evaded or the tax not deducted or short-deducted or deducted but not paid, whichever is higher. .

SGST Penalty Similarly, as per Section 122(1)(c) of the SGST Act: - The penalty for furnishing false information with regard to registration particulars is ₹25,000 or an amount equivalent to the tax evaded or the tax not deducted or short-deducted or deducted but not paid, whichever is higher.

Total Penalty Since the CGST and SGST Acts have similar provisions, the total penalty would be: ₹25,000 (CGST) + ₹25,000 (SGST) = ₹50,000 Or an amount equivalent to the tax evaded or the tax not deducted or short-deducted or deducted but not paid, whichever is higher. Please note that these penalties are subject to change, and it's essential to consult the relevant tax laws and regulations for the most up-to-date information.

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On 02 January 2025 at 09:46


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