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of <h1>Rule 141: Seized perishable goods released on payment of lower amount; FORM GST INS-05 required for release.</h1> Rule 141 of the Central Goods and Services Tax Rules, 2017, outlines the procedure for handling seized goods. If the seized goods are perishable or hazardous, they can be released if the taxable person pays the lower of the market price or the total tax, interest, and penalty due. Payment proof must be provided, and the release is formalized using FORM GST INS-05. If the taxable person does not pay, the proper officer may sell the goods, and the proceeds will be used to offset any outstanding tax, interest, penalty, or related amounts.
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