Imposition of penalty u/s 73(11) of CGST Act, 2017

[SUBRATA RAY]

Is it mandatory to impose penalty u/s 73(11) if self assessed tax is not paid within 30days from due date for payment of tax or is it discretionery power of proper office who iisued the SCN.what are defence can be taken to counter levy of penalty

AI Summary

Debate on Penalties Under Section 73(11) CGST Act: Mandatory or Discretionary? Insights and Interpretations Shared. A discussion on the imposition of penalties under Section 73(11) of the CGST Act, 2017, debated whether penalties for not paying self-assessed tax within 30 days are mandatory or discretionary. Most contributors agreed that the use of 'shall' in the statute indicates that penalties are mandatory. However, a circular clarified that penalties under Section 73(11) are generally not imposed if tax is paid late but before the due date, suggesting a general penalty under Section 125 might apply instead. Participants shared insights and interpretations but noted that these should not replace professional advice.