As per GST how to determine claiming and utilization of excess ITC is fraudulent or not.
in the beginning of there were lots of confusions.
Whether claiming n utilizing itc on car will be considered as willful misrepresentation or suppression of facts n whtether proceedings u/s 74 can be attracted?
please guide.
Menu
Sec 74 fraud
Replies (1)
Fraudulent ITC is where it has been claimed and utilised with wrong intentions to evade tax such as from non existent or fake suppliers, without actual receipt of goods etc.
Claiming and utlising ITC for car does not amount to a fraudulent transaction u/s 74.
Recent Threads
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
- Gift of money to my wife.
- Tax Audit If you show Loss
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responsible for paying GST Liability (If th
- Excess Payment on RCM
- AOC4 auto population of previous year data
Related Threads
CAclubindia
