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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Judicial Interpretations Clarify Penalty as Temporary Punishment or Monetary Sum Under Model GST Law (MGL)</h1> A penalty is not explicitly defined in the Model GST Law (MGL), but judicial interpretations and jurisprudence describe it as a temporary punishment or monetary sum imposed by statute as retribution for committing a specific offense. It can also be a punishment mandated by law or contract for performing or neglecting a duty required of a party.
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