Imprisonment in GST: See What Finance Minister Nirmala Sitaraman said for Imprisonment Provisions in GST Act

Imprisonment in GST: See What Finance Minister Nirmala Sitaraman said for Imprisonment Provisions in GST Act Imprisonment is only in cases of serious…

CA Deepak Gupta

Mar 25, 2022

Last update on Mar 25, 2022

Imprisonment in GST: See What Finance Minister Nirmala Sitaraman said for Imprisonment Provisions in GST Act Imprisonment is only in cases of serious nature & not for minor mistakes or wrong entries. GST law also doesn't provide for imprisonment in cases where the amount of tax evaded or ITC availed & utilized is less than the threshold limit of Rs 1 cr. Finance Minister Nirmala Sitaraman clarified that there is only one Section i.e Section 132 of CGST Act Which provides for Imprisonment in specific Cases i.e

Evasion of Tax
Availing Fraudlet Input Tax Credit
Deliberately tampering Financial Records

Imprisonment in GST only in Case of Serious Nature of Fraud Not for Minor Mistakes or Wrong Entries. She also said that GST Law also does not provide for Imprisonment where the Amount of Tax Evade or ITC Availed and Utilized is less than 1 crore. These Provisions remain as per the recommendations of the GST Council where States are also equally present.

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CA Deepak Gupta

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CA Deepak Gupta,is Co-founder of Studycafe. He is Microsoft Office Specialist and Corporate Trainer of AI Tools, Microsoft Excel. He is Finance Influencer having more than 250K followers on Social Media. CA Deepak Gupta, is Having more than 14 plus years of experience, and he has Worked with best brands Like, Hero, Wipro, Ericsson before Starting Studycafe. He has Trained more than 20000 Persons in Microsoft Excel, PowerPoint, Power BI, Google Sheet, Google Forms and Other Tools.