| Offences | Punishment |
| Tax evaded / Wrong availment or utilisation of input tax credit / Amount of Refund wrongly taken exceeding ` 500 lakh | Five years imprisonment with Fine |
| Tax evaded / Wrong availment or utilisation of input tax credit / Amount of Refund wrongly taken exceeding ` 250 lakh but does not exceed ` 500 lakh | Three years imprisonment with Fine |
| Tax evaded / Wrong availment or utilisation of input tax credit / Amount of Refund wrongly taken exceeding ` 250 lakh but does not exceed `100 lakh. | One year imprisonment with Fine |
| Commits or abets in
· Falsification or substitution of financial records or producing fake accounts, documents or furnishes any false information with an intention to evade payment of tax; · Obstruction or prevention any officer in the discharge of his duties · Tampering with or destroying any material evidence or documents; |
Six months imprisonment or Fine or both |
(ICAI FAQ PUBLICATIONS 06-09-2017 Punishment for Certain Offences: FAQ NO. 25)