Penalty for tax offences imposes higher of fixed fine or tax equivalent liability for listed GST violations. A penalty regime applies where a taxable person engages in listed offences-false or missing invoices, non remittance of tax collected, contraventions in deduction or collection at source, wrongful availing or distribution of input tax credit, fraudulent refund claims, falsified records, failure to register or furnish correct registration particulars, obstruction of officers, transporting goods without required documents, suppression of turnover, failure to maintain records, furnishing false information, dealing in confiscation liable goods, misuse of another's registration number, tampering with evidence or disposing of detained goods-resulting in a levy of a specified minimum fine or an amount equivalent to the tax evaded or related tax defaults, whichever is higher.