Offence and penalties under GST

Indirect Taxation

My question regarding Indirect tax law Qno5 a of may 2019 old As per the provision of section 129 owner of goods doesn't come forward to pay penalty Quantum of penalty is 50% of value of good Or 200 % of tax payable w.e.h But in suggestions given like Tax payable (+)50% valaue(-)tax already paid Can anyone guide me Video Details ------------- Free Course - CA Final - GST Value of Supply - Free #1. Value of supplies - Rule 32(2) Currency

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Ramamoorthy Kaliyaperumal

CA Final

★ 3K+

31-Jan-24 07:42

281

Answers (1)

That is an old question of 2019. Amendment has been made in 2021. After amendment, the quantum of penalty if owner does not come forward is 50% of the value of goods or 200% of tax payable whichever is higher.

Shiva Teja

Faculty

05-Feb-24 07:54