GST What is meant by the term penalty?

Discussion in 'GST (Goods & Service Tax)' started by Raju Choudhary, Apr 20, 2017.

  1. Raju Choudhary

    Raju Choudhary Active Member Staff Member

    Ans. The word “penalty” has not been defined in the CGST/SGST Act but judicial pronouncements and principles of jurisprudence have laid down the nature of a penalty as:
    • a temporary punishment or a sum of money imposed by statute, to be paid as punishment for the commission of a certain offence;
    • a punishment imposed by law or contract for doing or failing to do something that was the duty of a party to do.

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