Detention & Seizure of Goods/conveyance Section 129

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..... seizure No such goods or conveyance shall be detained or seized without serving an order of detention or seizure on the person transporting the goods. Penalty in case of Detention or seizure Goods detained can be released a) In case owner comes forward for the payment of penalty equal to - a) in case of t axable goods , 200% of tax b) In case of .....

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..... Section 129 ] Conveyance shall be released, if transporter can pay penalty of, Whichever is less a) Rs. 1 Lac . or b) Penalty determined under section 129(3) Time limit for passing of order for payment of penalty within 7 days of notice [ Section 129(3) read with Rule 142(3) ] The proper officer detaining or seizing goods or conveyance shall issue .....

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..... section 129 within fifteen days from the date of receipt of the copy of the order , the goods or conveyance so detained or seized shall be liable to be sold or disposed for the recovery of penalty . Exception:- where the detained or seized goods are perishable or hazardous in nature or are likely to depreciate in value with passage of time, the said period of fifteen days may be reduced by t .....

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