Question 7 - What should be the contents of the settlement application? - FAQ on GST dated 21.9.2016 based on Draft Model GST

Q 7. What should be the contents of the settlement application? Ans. The settlement application should contain full and true disclosure of: i. tax Liability which has not been disclosed to the proper officer of IGST; ii. manner of deriving such tax liability; iii. additional amount of tax which he accepts to be payable; iv. other particulars such as misclassification, exemption notification because of which he admits to short payment.