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of <h1>Rule 154: Disposal of Sale Proceeds for Tax Recovery Updated; Balance Crediting to Cash Ledger or Bank Account Explained.</h1> Rule 154 of the Central Goods and Services Tax Rules, 2017, outlines the disposal process for proceeds from the sale of goods or property to recover dues or penalties. The proceeds are first used to cover administrative recovery costs, then applied to the outstanding amount or penalty, followed by any other amounts owed under relevant tax acts. Any remaining balance is credited to the electronic cash ledger of the registered owner or to their bank account if not registered. If the balance cannot be paid within six months, it is deposited with the Fund. This rule was updated effective January 1, 2022.
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