The effective implementation of any tax law requires strict action against tax offenders. It is important for businesses to understand various compliances and implications for non-comply with various rules under GST. To encourage compliance with India's new GST tax regime, the government has come up with a three-pronged approach: Interest, Monetary Penalties, and Prosecution.
To ellaborate we have also explained briefly in a pictoral form and link of the same is given below:
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Co - Author: Purvi Chitalia
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