Penalty Under Section 125 of CGST Act

[NILESH PITALE]

Dear Expert

In GST Audit Case, Auditing Officer has Imposed Penalty U/s 125 for Non-Filling of ITC-04, On the Other Hand From inception of GST Era We are Very Prompt and Diligent in Paying taxes & Filling of the Returns, Mere Lapse of Filling of ITC 04 can be cause for invocation of Section 125

Please Guide.

AI Summary

Penalty under Section 125 for failure to file ITC 04; payment may settle small demands, appeal recommended for large levies.
Failure to file the mandatory ITC-04 during a GST audit led the auditing officer to invoke Section 125 as a general penal provision because there is no specific penalty for non-filing; where the levy is small pragmatic payment may be preferable, but substantial penalties should be contested on the basis that omission of ITC-04 has no independent revenue implication and may be appealed.