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of <h1>Section 130 of CGST Act Amended: Penalty Now 100% of Tax Payable, Sub-section (3) Removed</h1> Section 130 of the Central Goods and Services Tax Act has been amended by the Finance Act, 2021. In sub-section (1), the phrase 'Notwithstanding anything contained in this Act, if' is replaced with 'Where.' In sub-section (2), the second proviso now states that the penalty will be equal to 100% of the tax payable on the goods, replacing the previous reference to the penalty under section 129(1). Additionally, sub-section (3) has been removed entirely.
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