Question 15 - What are the penal consequences if a taxable person violates the condition and is not eligible for payment of tax under the Composition scheme?
FAQ on GST dated 21.9.2016 based on Draft Model GST Chapter 2 Levy of and Exemption from Tax
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Penalty for composition scheme ineligibility: taxpayer must pay tax, interest and a penalty equal to the tax. Breach of Composition Scheme eligibility triggers liability to pay the tax due under the regular regime, interest on that tax, and a penalty equal to the ... Summary
Penalty for composition scheme ineligibility: taxpayer must pay tax, interest and a penalty equal to the tax.
Breach of Composition Scheme eligibility triggers liability to pay the tax due under the regular regime, interest on that tax, and a penalty equal to the amount of tax payable.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.