Section 122 CGST Act 2017 prescribes PENALTIES for specified offences (in addition to tax + interest). For SUPPLYING TAXABLE goods without ISSUING INVOICE:
Answer & Solution
Correct answer: D.
1. Section 122 CGST Act 2017: PENALTIES for specified offences.
2. Section 122(1) lists 21 specified offences including: supplying goods/services without invoice; issuing invoice without supply; collecting tax but not depositing; non-deduction of TDS; non-payment of RCM; non-payment of tax in time; etc.
3. PENALTY: Rs 10,000 OR AMOUNT EQUAL TO TAX EVADED — whichever is HIGHER.
4. Section 122(2): supplying any goods or services without issuing invoice or by issuing false invoice — penalty Rs 25,000.
5. Section 122(3): aiding or abetting commission of offence — penalty up to Rs 25,000.
6. Section 132: PROSECUTION for offences > Rs 5 crore — imprisonment up to 5 years.
7. Hence option B is correct.
_Source: CS Executive Paper 4 Tax Laws (ICSI BoS) + Income Tax Act 1961 + CGST Act 2017 — CGST Act 2017, Section 122_
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