Track and trace mechanism for specified goods creates unique identification marking obligations and new compliance and penalty duties. The Act inserts a defined unique identification marking, introduces a track and trace scheme (Section 148A) empowering notification of goods and persons, mandating affixation of unique markings, electronic storage and reporting of specified information, and requires payment for the system; it adds a dedicated penalty (122B) for contravention in addition to existing penalties. It clarifies 'plant and machinery', modifies statement and return language, tightens input tax credit reversal and credit-note provisos, imposes appeal pre-deposit conditions for penalty-only orders, and amends Schedule III to address SEZ/FTWZ warehouse supplies.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Track and trace mechanism for specified goods creates unique identification marking obligations and new compliance and penalty duties.
The Act inserts a defined unique identification marking, introduces a track and trace scheme (Section 148A) empowering notification of goods and persons, mandating affixation of unique markings, electronic storage and reporting of specified information, and requires payment for the system; it adds a dedicated penalty (122B) for contravention in addition to existing penalties. It clarifies "plant and machinery", modifies statement and return language, tightens input tax credit reversal and credit-note provisos, imposes appeal pre-deposit conditions for penalty-only orders, and amends Schedule III to address SEZ/FTWZ warehouse supplies.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
