GST big breaking | sec 74A | ഇനി നടപടികൾ വേഗത്തിൽ , പെനാൽറ്റി ഇല്ല! | warrier’s tax and laws

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  • Опубліковано 15 гру 2024
  • GST big breaking | sec 74A | ഇനി നടപടികൾ വേഗത്തിൽ , പെനാൽറ്റി ഇല്ല | warrier’s tax and laws
    This video explains the complete details about the new inserted section 74A which replaces sec 73 & sec 74 from 2024-25 . The advantageous of the section and big relief offered are the reduced litigation, framing of less time frame for completing the proceedings and issue of SCN. This section is a business friendly initiative from the GST department. It’s a big announcement of the 53rd GST council and inserted by Finance bill 2024 as per budget 2024. Reduced penalty , no penalty and minimum time for completion of assessment are the highlights of sec 74A, latest on gst , gst updates , tax video malayalam , warrier’s tax and laws .
    Section 74A attempts to standardise the timeframe for issuing notice, tax demand, and penalty relief for any due tax liability irrespective of fraud, wilful misstatement, or suppression of facts. This section is applicable from FY 2024-25 and will supersede Sections 73 and 74.
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