If an Assesee has opted for Composition scheme from inception of its registration from FY 2021 onwards and it is properly paying tax under Composition scheme. And now department is of the option that the composition scheme should not be available to this assessee can they invoke section 74 & issue retrospective demand notice to the Assessee ? Becasue now they are issuing notice as per regular tax payable mechanism which is totally a hardship on the taxpayers.
Whether single order for FY 2018-19 to 2021-22 by invoking section 74 is permissible when the time limit of passing order for FY 2018-19 is already expired
As per me time limit for passing order under section 74 is still not over sir. But yes SCN for multiple years whether permissible or not is being examined by various HCs let’s see what gets finalised
If an Assesee has opted for Composition scheme from inception of its registration from FY 2021 onwards and it is properly paying tax under Composition scheme. And now department is of the option that the composition scheme should not be available to this assessee can they invoke section 74 & issue retrospective demand notice to the Assessee ? Becasue now they are issuing notice as per regular tax payable mechanism which is totally a hardship on the taxpayers.
Whether single order for FY 2018-19 to 2021-22 by invoking section 74 is permissible when the time limit of passing order for FY 2018-19 is already expired
As per me time limit for passing order under section 74 is still not over sir.
But yes SCN for multiple years whether permissible or not is being examined by various HCs let’s see what gets finalised
There was no information about this webinar.