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Penalty Payable under Section 129(1a), Goods and Services Tax - GST |
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Penalty Payable under Section 129(1a) |
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Goods Intercepted during Transit On which Applicable Tax Rate is 18% while Tax Invoice Raised for 12% Tax Rate. Therefore Invoice Raised for Tax Value of Rs. 100 on which Tax Paid is 12. E-way Has been made Correctly. Now Calculation of 200% penalty for Tax payable will be Rs. 36 or Rs. 12 Case 1 : Tax Payable on 100 will Rs. 18 while already paid Tax is 12. Therefore Tax Short Paid is 6 on which 200% penalty will be 12 Case 2: Tax payable on Rs. 100 is 18 therefore Penalty under 129(1a) is 36 What does the GST Law/Rules says on this? Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
While goods are intercepted, questions regarding rate of tax, PoS, value of supply, etc. cannot be questioned. If there is any discrepancy in that then notice under s 73/74 should be issued. 200% penalty cannot be levied for this short payment, if any. Page: 1 |
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