GST What is the quantum of penalty provided for in the CGST /SGST Act?

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

  1. Raju Choudhary

    Raju Choudhary Active Member Staff Member

    Ans. Section 122(1) provides that any taxable person who has committed any of the offences mentioned in section 122 shall be punished with a penalty that shall be higher of the following amounts:
    • The amount of tax evaded, fraudulently obtained as refund, availed as credit, or not deducted or collected or short deducted or short collected, or
    • A sum of Rs. 10,000/-.
    Further Section 122(2) provides that any registered person who has not paid tax or makes a short payment of taxon supplies shall be a liable to penalty which will be the higher of:
    • 10% of the tax not paid or short paid, or
    • Rs. 10,000/-

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