Section 132 CGST Act

Masterminds Yes, Backdating No: Delhi High Court Holds Section 122(1A) CGST Reaches Non-Taxable Persons but Only for Conduct on or After 1 January 2021

Three former directors were each fined ₹24,99,88,069 personally, the same amount as the company, for an alleged circular-trading scheme. The Delhi High Court has now answered two questions that split the High Courts: who can be penalised under Section 122(1A), and for which period. Its answer favours the Revenue on the first and the assessee on the second.