GST UPDATE

???? CA. Praveen Sharma Ki Desk Se ?????

Draft Reply Request to Drop Proceedings Under Section 74 of CGST Act

?This letter is in response to the notice issued under Section 74 of the CGST Act, 2017, regarding the alleged wrongful availment of ITC based on fake invoices for the tax period [mention period].

?We would like to inform you that this issue has already been addressed under Section 73 of the CGST Act. Upon receiving the earlier notice, 

?we conducted a thorough review and voluntarily paid the required tax, interest, and penalties. This was done to rectify an inadvertent error, with no intent of fraud or misstatement.

?Given that the matter has been settled under Section 73, invoking Section 74 is not justified as it pertains to fraud or willful misstatement, which is not relevant to our case. 

?We request you to consider the principle of double jeopardy and drop the current proceedings.

CA. Sharma Praveen

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