GST Penalty if Wrong Input Tax Credit availed or utilized

By | February 9, 2019
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(Last Updated On: February 9, 2019)

GST Penalty if Wrong Input Tax Credit availed or utilized

Section of CGST Act 2017   Particulars   Penalty
122(1)(vii) Takes or utilizes input tax credit without actual receipt of goods or services or both either fully or partially, in contravention of the provisions of this Act or the rules made thereunder; Rs. 10000 or the amount of wrong ITC availed and utilised, whichever is higher
122(1)(ix) Takes or distributes ITC in contravention of section 20 (Manner of distribution of credit by Input Service Distributor ) or rules made thereunder   Rs. 10000 or the amount of wrong ITC passed or distributed, whichever is higher
122(2) Input tax credit wrongly availed and utilised for any reason other than fraud or wilful misstatement or suppression of facts   Rs. 10,000/- or10% of tax due, Whichever is higher.
122(2) Input tax credit wrongly availed and utilised for reason of fraud or willful misstatement or suppression of facts Rs. 10,000/- or100% of tax due, whichever is higher

Refer GST Input Tax Credit : Free Study Material

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Service Tax Ready Reckoner
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