A taxpayer seeking compounding of offence is required to file application within 12 months from the end of the month in which prosecution complaint has been filed in the court of law. As a onetime measure, the CBDT has clarified that application filed before the competent authority on or before 31-12-2019 shall be deemed to… Read More »
The Central Board of Direct Taxes (CBDT) has issued Guidelines for Compounding of Offences under Direct Tax Laws, 2019 in supersession of earlier Guidelines dated 23-12-2014 These Guidelines shall come into effect from 17.06.2019 and shall be applicable to all applications for compounding received on or after the aforesaid date. F.No. 285/08/2014-IT(Inv.V)/147 Government of India Ministry… Read More »
Offences and Penalties, Prosecution and Compounding FAQs on GST released by CBC BUY Q 1. What are the prescribed offences under MGL? Ans. The Model GST Law codifies the offences and penalties in Chapter XVI. The Act lists 21 offences in section 66, apart from the penalty prescribed under section 8 for availing compounding by… Read More »
PROSECUTION AND COMPOUNDING UNDER GST Sponsored Book BUY Prosecution for Offences under GST Law As per clause 73(1) of GST Model Law, 2016, whoever commits any of the following offences, namely— (a) supplies any goods and/or services without issue of any invoice or issues an incorrect or false invoice with regard to any such supply;… Read More »