Mitigating the litigation in GST matters. (Part 2).

01) As on date Show Cause Notices may be issued under three sections. 73, 74 and 74A as the case may be.

02) .Section 73 applicable for all non -fraud cases up to 31/03/2024. Only financial years 2022-23 and 2023-24 to be covered.

03) Section 74A applicable for fraudulent cases up to 31/03/2024. Financial years 2020-21 to 2023-24 may be covered only when there is an intention to evade tax.

04) Mere allegation would not suffice. CBIC Instruction dated 13/12/2023 to be strictly adhered in all section 74 cases.

05) Section 74 A is to be applied for all the tax periods commencing from 01/04/2024. No distinction in time limit for issuance and penalty is higher in fraudulent cases.