Share This Post

Home >> Communities >> Current Issues >> GST

Suppliers liable to pay penalty for not passing GST rate cut benefits By National Anti-Profiteering Authority

As per Section 122 supplier of any goods or services without issue of invoice or incorrect / false invoice is liable to pay a penalty of Rs 10,000 or an amount equivalent to the tax evaded or the tax not reduced under section 31 or short-deducted or deducted but not paid to the government…, whichever is higher.

AMRG & Associates Partner Rajat Mohan said: This ruling by NAA has made it clear that anti-profiteering provisions apply to each supplier for its supplies, and in no case burden can be shifted to any other person in the supply chain. This would bring small traders and shopkeepers also under the umbrella of anti-profiteering regulations

However, you can visit encomply to take care of all your GST-related problems.

Share This Post

Leave a Reply