Goods cannot be detained and penalty cannot be imposed under Section 129 of the UPGST Act when goods are undervalued

Goods cannot be detained and penalty cannot be imposed under Section 129 of the UPGST Act when goods are undervalued https://www.taxtmi.com/article/detailed?id=12484 Detention and penalty cannot be imposed under the UPGST detention provision solely for alleged undervaluation; the competent procedure requires issuance of a valuation assessment notice and completion of assessment under the statutory valuation provisions, and only thereafter, if undervaluation is established, may penalty consequences follow. en-us Tue, 02 Apr 2024 08:09:17 +0530 Tue, 02 Apr 2024 08:09:17 +0530 TaxTMI RSS Generator Goods cannot be detained and penalty cannot be imposed under Section 129 of the UPGST Act when goods are undervalued https://www.taxtmi.com/article/detailed?id=12484 Detention and penalty cannot be imposed under the UPGST detention provision solely for alleged undervaluation; the competent procedure requires issuance of a valuation assessment notice and completion of assessment under the statutory valuation provisions, and only thereafter, if undervaluation is established, may penalty consequences follow. Articles Goods and Services Tax - GST Tue, 02 Apr 2024 08:09:17 +0530 https://www.taxtmi.com/article/detailed?id=12484