TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2021 amends GST Act Section 129, revising penalties for detained goods during transit.</h1> Clause 108 of the Finance Bill, 2021 amends section 129 of the Central Goods and Services Tax Act. It revises penalties for detained or seized goods during transit. If the owner comes forward, the penalty is 200% of the tax or 2% of the value for exempt goods. If not, it's 50% of the goods' value or 200% of the tax. The proper officer must issue a penalty notice within seven days and pass an order within another seven days. If unpaid within 15 days, the goods may be sold, with provisions for perishable items allowing a shorter period.
TaxTMI 
TaxTMI 
