Chart of Punishment Prescribed under Section 132(1) Under GST Law
- Chart of Punishment Prescribed under Section 132(1)
| Clause | Amount of Evasion (in Rupees.) | Particular | Term of Imprisonment |
|---|---|---|---|
|
(i) |
Above 5 Crore
|
The amount of tax evasion/ Wrongly availment/utilization of Input tax credit/ Refund |
Imprisonment of a term which may extend to 5 Years and fine [minimum 6 months (Sec 132 (3)] |
|
(ii) |
Duty/Tax evasion Above 2 Crore but below 5 Crore |
The amount of tax evasion/Wrongly availment/utilization of Input tax credit/ Refund |
Imprisonment of a term which may extend to 3 Years and fine [minimum 6 months (Sec 132 (3)] |
|
(iii) |
Duty/Tax evasion Above 1 Cr but below 2 Crore |
The amount of tax evasion/ Wrongly availment/utilization of Input tax credit/ Refund |
Imprisonment of a term which may extend to to 1 Year with fine [minimum 6 months (Sec 132 (3)] |
|
(iv) |
|
Where one commits or abets the commission of offence specified in clause (f) or (g) or (j)(Falsifies/ Obstructs/ Tampers) |
Imprisonment of a term which may extend to 6 months or with fine or with both. |
Repeat Offences:
Where any person convicted of an offence under this section is again convicted of an offence, then he shall be punishable for the second and for every subsequent offence with imprisonment for a term which may extend to five years and with fine.[ Section 132(2) ] •
- The imprisonment referred to in clauses (i), (ii) and (iii) of sub-section (1) and sub-section (2) shall, in the absence of special and adequate reasons to the contrary to be recorded in the judgment of the Court, be for a term not less than six months. [Section 132(3)]
- Non-cognizable offence: Other offences under the Act, except the offences referred to in Section 132(5) are non-cognizable and bailable Section 132 (4)
- Cognizable offence: All offences specified in clause (a) or clause (b) or clause (c) or clause (d) of sub-section (1) and punishable under clause (i) of that sub-section where the amount of tax evaded exceeds Rs. 5 crores, shall be cognizable and non-bailable Section 132 (5)
- No GST on Penalties, Late Fees/Panel Interest, fine levied or collected by RBI: GST AAR MAHARASHTRA
- FINANCE BILL 2024: INSERTION OF NEW SECTION 128A IN CGST ACT 2017
- FINANCE BILL 2024: INSERTION OF SECTION 74 A IN CGST ACT, 2017
- Finance Bill 2024: Amendment to Section 16 of CGST Act, 2017
- UNION BUDGET 2024: KEY HIGHLIGHTS ON INCOME TAX