Penalty u/s 73- Automatic?
Автор: GST Upskilling
Загружено: 2024-04-02
Просмотров: 712
Описание:
Penalty Under Section 73: Automatically Levied When Demand Is Confirmed?
In this short video, CA Ritesh Arora explores whether Section 73(9) of the CGST Act automatically imposes a penalty once a demand for tax is confirmed—without considering procedural nuances.
Key Insights:
Section 73(9) mandates that, after considering a taxpayer’s representation, the proper officer must issue an order determining the amount of tax, interest, and a penalty—calculated as 10% of tax or ₹10,000, whichever is higher.
However, the penalty is not automatic—it applies only if the tax or interest isn’t paid within 30 days of the show cause notice. If paid within that period, no penalty is applicable, and proceedings are deemed concluded.
#gstlitigation #section73 #cgstact #penalty #taxlaw #taxcompliance #showcausenotice #taxpayerrights #gstindia #ca #ritesharora #gstgavel #legalawareness #gstupdates
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