Power to impose Penalty in certain case [ Section 127 ] - GST Ready Reckoner - GST

Power to impose Penalty in certain case Provides that Where Proper Officer is of the view that a person is liable to a penalty and the same is not covered under following proceedings, Section 62 -Assessment of non filers of return or Section 63 - Assessment of unregistered persons or Section 64 - Summary assessment or Section 73 - Demand in case of non payment, short payment of GST or erroneous refund on account of reasons other than fraud Upto Financial year 2023-24 or Section 74 -Demand in case of non payment, short payment of GST or erroneous refund on account of fraud etc. Upto Financial year 2023-24 or Section 74A - Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason pertaining to Financial Year 2024-25 onward or [Inserted vide Finance (No. 2) Act, 2024 w.e.f. 01.11.2024 vide N.No. 17/2024 dated 27.09.2024 ] Section 129 -Detention, Seizure and release of goods and conveyances in transit or Section 130 - Confiscation of goods or conveyance, he may levy such penalty after giving a reasonable opportunity of being heard . [ Section 127 ]