28 November 2019
A gst registered dealer intimation of liability u/s 73(5) u/s 74 (5) form gst drc-01a notice received. Meaning of u/s 73(5) ,u/s 74(5) sections.
29 November 2019
Section 73 speak about non payment or short payment of GST, Erroneous refund , wrong availment of Input tax credit for any reasons other than fraud,, willful misstatement and suppression of facts.
Section 73 (5) speaks about the payment of not paid or short paid GST, repay the err nous refund and make payment of wrong availment of GST ITC along with interest without serving notice on their own and inform the same to department in writing
Section 74 speak about non payment or short payment of GST, Erroneous refund , wrong availment of Input tax credit by the reasons of n fraud,, willful misstatement and suppression of facts.
Section 74 (5) speaks about the payment of not paid or short paid GST, repay the err nous refund and make payment of wrong availment of GST ITC along with interest & penalty @ 50% of GST amount without serving notice on their own and inform the same to department in writing
Read more at: https://www.caclubindia.com/experts/notice-received-form-gst-drc-01a--2771804.asp
Read more at: https://www.caclubindia.com/experts/notice-received-form-gst-drc-01a--2771804.asp
CAclubindia
