Section 122(1)(vii) provides for penalty for taking the ITC. Section 122(2) also provides for penalty for wrong availment of ITC. Under which situation 122(1) will get attracted under which situation 122(2) will get attracted?
Menu
Section 122 of CGST Act
Replies (3)
Sir,
122(1)(vii) - covers the specific cases where Invoice received & ITC availed without actual receipt of Goods r services - violation of sec.16
122(2) - All other cases - general cases with r without fraud.
122(1)(vii) - covers the specific cases where Invoice received & ITC availed without actual receipt of Goods r services - violation of sec.16
122(2) - All other cases - general cases with r without fraud.
Yes agree with CA Raghavendra.
Section 122(1)(vii) : ITC availed without receipt of Goods or Services & Section 122(2) imposing penalty for fraud & Non fraud cases.
Section 122(1)(vii) : ITC availed without receipt of Goods or Services & Section 122(2) imposing penalty for fraud & Non fraud cases.
If 2 or more offences under section 122 cgst committed then penalty pl
Recent Topic
- Section 192 2(b) entry in IT return ITR 1
- Rent from redevelopment property
- How to find FMV of inherited gold after selling it
- Happy CA Day!!
- Share your proudest CA moment 🏆
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
Related Topics
CAclubindia
