Key Time Limit for Issuing GST Demand Notices Under Sections 73 and 74: Know Applicable GST Penalties

Key Time Limit for Issuing GST Demand Notices Under Sections 73 and 74: Know Applicable GST Penalties

Here is detailed information about the key time limits for issuing GST demand notices or orders for different financial years, mainly under Sections 73 and 74, and penalties applicable in different situations. These rules mainly apply when tax has not been paid, has been short paid, or has been wrongly claimed (like excess Input Tax Credit or a refund you should not have taken). The time limits and penalties vary depending on whether the issue involves fraud or no fraud.