New Section 122B in GST Act: Penalties for Non-Compliance with Track and Trace Mechanism Introduced
Section 122B is introduced in the Central Goods and Services Act, imposing penalties for non-compliance with the track and trace mechanism. If a person, as specified in clause (b) of sub-section (1) of section 148A, violates these provisions, they will incur a penalty. This penalty is either one lakh rupees or ten percent of the tax payable on the goods, whichever amount is greater. This is in addition to any other penalties applicable under Chapter XV or other relevant provisions of the Act.
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