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whats the difference?

Sunish (Freelance) (168 Points)

15 September 2018

between sec 73(9) and 122(2)(a)
or 74(9) and 122(2)(b)

is it just a repetition ?

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3 Replies

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 15 September 2018

You talking about GST? coz above sections does not exist in Income Tax

Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 16 September 2018

122.2.Any registered person who supplies any goods or services or both on which any tax has not been paid or short-paid or erroneously refunded, or where the input tax credit has been wrongly availed or utilised

for any reason, other than the reason of fraud or any wilful misstatement or suppression of facts to evade tax, shall be liable to a penalty of ten thousand rupees or ten per cent. of the tax due from such person, whichever is higher;

for reason of fraud or any wilful misstatement or suppression of facts to evade tax, shall be liable to a penalty equal to ten thousand rupees or the tax due from such person, whichever is higher.