What action the tax authorities may take after the special audit?

What action the tax authorities may take after the special audit?

Based on the findings/observations of the special audit, action can be initiated under Section 73 or Section 74 of the CGST/SGST Act.
  Section 73: Covers determination of tax not paid or short paid or erroneously refunded or ITC availed wrongly or utilized for any reason other than fraud, willful misstatement or suppression of facts.                                                                                                                                                                Section 74: Covers determination of tax not paid or short paid or erroneously refunded or ITC availed wrongly or utilized by reason of fraud, willful misstatement or suppression of facts.

For more information on this visit https://www.taxaj.com/

    • Related Articles

    • Why should you not claim more ITC than reflecting in 2A/2B

      ? Introduction to Input Tax Credit (ITC) Input Tax Credit (ITC) forms the cornerstone of India's Goods and Services Tax (GST) regime. It allows businesses to reduce their tax liability by claiming credit for taxes paid on inputs used in the course ...

    • Checklist for Tax Audit Under Section 44AB in Mumbai

      Introduction If you are a business owner or professional in Mumbai with income exceeding the prescribed limits, a tax audit under Section 44AB of the Income Tax Act, 1961 becomes mandatory. This audit ensures that your accounts are properly ...

    • Tax Audit Report Form 3CD — Complete Clause-wise Guide (2026)

      Introduction Form 3CD is one of the most important documents in a tax audit under Section 44AB of the Income-tax Act. It is a detailed statement of particulars that accompanies the tax audit report in Form 3CA or Form 3CB. Form 3CD contains 44 ...

    • Tax Audit In India

      The term ‘audit’ refers to a check, review, verification or inspection of a record, transaction, account etc. A tax audit is the process of verification and inspection of the accounts of a taxpayer to confirm their adherence to the provisions of the ...

    • What is Take Home Salary, and How to increase take-home salary?

      Take-home salary is the amount received by an employee after subtracting all the deductions from his package or CTC (Cost to Company). The formula for computing the take-home salary is Take home salary= Basic Salary + Allowances – Deductions ...