Tag Archives: penalties

GST FAQ- Offences, Penalties, Prosecution and Compounding – 31.03.2017 by CBEC

Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Offences, Penalties, Prosecution and Compounding Chapter 20 Q 1. What are the prescribed offences under CGST/SGST Act? Ans. The CGST/SGST Act codifies the offences and penalties in Chapter XVI. The Act lists 21 offences in section 122, apart from the penalty prescribed under section 10… Read More »

Rs 500 /1000 Notes accepted for fees,taxes & penalties payable to Central & State Governments

As per Press release by Ministry of Finance, Govt of India ,10-November, 2016 Old demonitised 500 & 1000 rupee notes will be accepted for making payments towards fees, charges, taxes and penalties payable to the Central and State Governments including Municipal and local bodies;This facility available only till midnight of 11th November,2016. The Central Government has… Read More »

Penalties list under Income Tax

Section Nature of default Penalty leviable (1) (2) (3) 140A(3) Failure to pay wholly or partly— Such amount as Assessing Officer may impose but not exceeding tax in arrears (a) self-assessment tax/fringe benefit tax, or (b) interest, or (c) both under section 140A(1) 158BFA(2) Determination of undisclosed income of block period Minimum : 100 per cent… Read More »

Book on Penalties and Prosecution under Income Tax (Finance Act 2016)

Penalties and Prosecution Under the Direct Tax Laws as Amended by Finance Act 2016 (English) (Hardcover, S R Kharabanda, Prem Nath) BUY Specifications of Penalties and Prosecution Under the Direct Tax Laws as Amended by Finance Act 2016 (English) (Hardcover, S R Kharabanda, Prem Nath) BOOK DETAILS Publisher Commercial Law Publishers (India) Pvt. Ltd. ISBN-10… Read More »

Offences and Penalties under GST

OFFENCES AND PENALTIES UNDER GST Sponsored Book BUY Offences under GST Law Following are offences under GST Law. Penalties can be imposed by departmental authorities to person committing the specified offence. As per clause 66(1) of Model GST Law, 2016, Where a taxable person who — (i) supplies any goods and/or services without issue of… Read More »

Penalties under Real Estate Act 2016

The Real Estate (Regulation and Development) Act, 2016 Penal Provisions Chapter VIII of the Act contains the provisions relating to Offences, Penalties and Adjudication. The quantum of the penalty is severe which is evidenced from the following table: Nature of contraventions Penalties Section 59(1): Contravenes the provisions of section 3 (Failure to get Registration of… Read More »

CCI Imposes Penalties on Jet Airways,InterGlobe,Spice Jet

Ministry of Corporate Affairs of Govt of India on 17-November, 2015 CCI Imposes Penalties Upon Airlines for Concerted Action in Fixing Fuel Surcharge (FSC) on Cargo Transport The Competition Commission of India (CCI) has imposed penalties upon 3 Airlines for concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo. The final order was… Read More »


PENALTIES IN INCOME TAX ACT [table id=12 /] Note : No penalty is imposable for any failure under sections 271(1)(b), 271A, 271AA, 271B, 271BA, 271C, 271CA, 271D, 271E, 271F, 271FA, 271FAB, 271FB, 271G, 271GA, 271H, 271-I, 272A(1)(c) or (d), 272A(2), 272AA(1), 272B, 272BB(1), 272BB(1A) and 272BBB if the person or assessee proves that there was… Read More »