Default in timely issuance of tax invoice, consequences (interest, penalty, prosecution), Compounding and Corrective measures
Brief background: GST law is very specific and settled in terms of issuance of tax invoices on account of supply of goods or services or both and determination of time of supply for discharging of GST liability and implications in case of default in the same w.r.t. interest, penalty, prosecution and compounding of offence reliefs. For the same, please find herewith provisions encapsulating provisions for issuance of a tax invoice and GST liability to be determined according to time of supply provisions for reporting into GST returns, consequences in case of default thereby and compounding provisions.
Source Taxguru
Latest Posts in "India"
- Zero GST on Health Insurance Drives 38% Surge in Demand, Report Finds
- AAR Rules GST Applies to Small Packaged Shrimp Exports, Citing Retail Packaging Criteria
- Supreme Court to Decide if Leasehold Rights Transfer is Taxable Under GST Law
- Only Entity Named as Exporter in Customs Documents Can Claim Service Tax Refund: CESTAT
- CESTAT: Testing Services to Foreign Clients Qualify as ‘Export of Services’ under FTDR Act


 
        		 
        	










