Penalty under GST denotes a statutory punishment or monetary sanction for commission or omission of a duty. The term penalty is not defined in the CGST/SGST Act; judicial principles characterise it as a statutory punishment or sum of money imposed as punishment ... Summary
Penalty under GST denotes a statutory punishment or monetary sanction for commission or omission of a duty.
The term penalty is not defined in the CGST/SGST Act; judicial principles characterise it as a statutory punishment or sum of money imposed as punishment for a specified offence, or as a punishment for doing or failing to do something that was a duty of a party to do.
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