Tax evasion exceeding an amount of Rs uline{1cm} under the Goods and Services Tax (GST) regime will be a non-bailable offence.

2017

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Tax evasion exceeding an amount of Rs _________ under the Goods and Services Tax (GST) regime will be a non-bailable offence.

A	4 crore
B	3 crore
C	2.5 crore
D	5 crore

Explanation:

Detailed explanation-1: -An offender not paying tax or making short payments must pay a penalty of 10% of the tax amount due subject to a minimum of Rs. 10, 000. Consider-in case tax has not been paid or a short payment is made, a minimum penalty of Rs 10, 000 has to be paid. The maximum penalty is 10% of the tax unpaid.

Detailed explanation-2: -GST Evasion: No anticipatory bail for an offence which is bailable.

Detailed explanation-3: -The following types of offences committed with an intent to evade tax is punishable with imprisonment under GST: Supply of goods or services or both without the cover of GST tax invoice with an intent to evade tax.

Detailed explanation-4: -Jail term not exceeding 3 years if tax amount involved is between Rs. 200 lakhs to less than Rs. 500 lakhs.

There is 1 question to complete.