2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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3 crore
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1.5 crore
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2.5 crore
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1 crore
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Detailed explanation-1: -The proposal entails raising the threshold of cognizable and non-bailable offences under Section 132 of the Central GST Act to ₹20 crore from ₹5 crore now and attaching bank accounts only for serious and high value offences under Section 83.
Detailed explanation-2: -Section 132 deals with punishment of offences including falsification of documents for obtaining refunds, dealing in confiscated goods, abetting in commission of offences, and obstructing officers from discharging their duties. All these four offences are cognizable and non-bailable for offences under Rs 5 crore.
Detailed explanation-3: -Jail term not exceeding 3 years if tax amount involved is between Rs. 200 lakhs to less than Rs. 500 lakhs.
Detailed explanation-4: -As per section 276C if a person wilfully attempts to evade tax, penalty or interest, then he shall be punished as follows: With rigorous imprisonment which shall not be less than 6 months but which may extend to seven years and with fine where tax sought to be evaded exceeds Rs. 25 lakh (Rs. 1 lakh upto 30-6-2012).