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of <h1>Amendment to Section 129 of GST Act: Revised Penalties for Goods Detention Based on Owner's Response</h1> Section 129 of the Central Goods and Services Tax Act has been amended to revise penalty provisions. If the owner of the goods comes forward, the penalty is 200% of the tax or 2% of the goods' value for exempted goods, capped at 25,000 rupees. If the owner does not come forward, the penalty is 50% of the goods' value or 200% of the tax, whichever is higher. The proper officer must issue a notice within seven days of detention, and the penalty must be paid within 15 days, failing which the goods may be sold. Penalties for perishable goods may be expedited.
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