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    GST: penal consequences

    Posted By : Shiriti / Published on : 26-Apr-2018 12:05 AM / View : 565 / Comment : 1

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    What are the penal consequences if a taxable person violates the condition and is not eligible for payment of tax under the Composition scheme?
    Read more on : consequences penal

    • In a case where a Taxable Person intentionally or unintentionally takes benefit of the Composition Scheme for which he is not eligible then Demand & Recovery provisions of sections 73 & 74 will apply. 

      • Fraud case

      Penalty 100% of tax due or Rs. 10,000, whichever is higher.

      • Non-fraud case

      Penalty 10% of tax due or Rs. 10,000, whichever is higher.

      12-11-2018 / 11:28:42 AM
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