This was the point i am discussing with my friends and during my sessions of GST Audit that if the provisions of Rule 46 are not followed then penal provisions can be levied under Section 122 and Section 125. Rule 46 clearly states that on a tax invoice, the bare minimum details have to be shown and […]
As per provisions of Rule 18 of the CGST Rules and corresponding State / Union Territory Rules, the taxpayer has to display his certificate of registration and registration number at a prominent location at the principal place of business and at every additional place of business. As per provisions of Section 125 of the CGST […]
As per Circular No. 33/07/2018-GST dated 23rd Feb 2018, the taxpayer in case utilizes the credit carried forward from the blocked CENVAT Credit from the Electronic Credit Ledger, the same has to be paid with interest and penalty.
As per Circular No. 33/07/2018-GST dated 23rd Feb 2018, in case if the taxpayers utilizes the same and the adjudication is not in favor of the taxpayer, the taxpayer has to pay the amount of the utilized CENVAT Credit in the Electronic Credit Ledger with interest and penalty as per the provisions of the CGST […]
A summary of the order issued under sub-section (9) of section 73 or sub-section (9) of section 74 or sub-section (3) of section 76 shall be uploaded electronically in FORM GST DRC-07, specifying therein the amount of tax, interest and penalty payable by the taxpayer to whom the order is issued.
On payment of penalty and interest on a voluntary basis by the taxpayer before the issue of notice by the concerned tax officer in FORM GST DRC-01, the tax officer will not issue the notice and he will acknowledge the payment of interest and penalty in FORM GST DRC-04.
Before serving of the notice in FORM GST DRC-01 by the tax officer, the taxpayer can pay the taxpayer can pay interest @ 18% as per section 50 of the CGST Act and also a penalty of 15% as per Subsection 5 of section 74 and submit the same to the concerned officer in FORM GST DRC-03.
As per Rule 141 of the CGST Rules 2017, if the taxpayer does not pay the amount, then the commissioner can dispose of the goods seized from the taxpayer and adjust the same against the tax payable, interest, penalty or any other amount payable in respect of such goods.
As per Rule 141 of the CGST Rules 2017, in case if the goods seized are of perishable or hazardous in nature of the taxpayer, the said goods can be released, if the owner of the goods pays an amount equivalent to the market price of such goods or things or the amount of tax, […]