Menu
Under invoicing
what if jwellery dealer invoice the jwellery at lower than market value
Replies (1)
Invoicing jewellery below market value to evade taxes is illegal. The GST law empowers tax authorities to disregard the transaction value and apply the "Open Market Value" instead, leading to demands for additional tax, heavy penalties, and potential prosecution for tax evasion.
Recent Topics :
- Property Selling and buying
- Office Management System
- Can I pursue articleship alongside a regular full-
- Investment fund's income from ncd distribution to
- Comparative BS PL with Audit report
- Source of funds in IT returns
- Work from home job
- TDS ON ANY PURCHASE OF ANY GOODS - 393(1)
- TDS on payment to a non resident
- NSFA(National Food Security Act) commission
Related Topics :
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
CCI
Pro
CAclubindia
