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Penalty under section 125
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....enalty under section 125<br> Query (Issue) Started By: - vignesh VSACCOUNTOPRIVATELIMITED Dated:- 22-12-2022 Last Reply Date:- 28-12-2022 Goods and Services Tax - GST<br>Got 7 Replies<br>GST<br>Sir. Can both , penalty and late fee imposed on late filing of GSTR-9 ? is there any notification or case law to rely for any waiver. kindly refer Reply By vignesh VSACCOUNTOPRIVATELIMITED: The Reply: sir....
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..../mdm. In continuation to the above, kindly clarrify. 1.Can both , penalty and late fee imposed on late filing of GSTR-9 ? 2. is Section 125 levy at the discretion of the officer ? 3. Does section 126 relating to General disciplines related to penalty covers section 125, can we take advantage of the same?. Reply By KASTURI SETHI: The Reply: Query-wise reply : 1. Late fee is also a kind of pun....
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....ishment (penalty/fine). An assessee cannot be punished twice for the SAME offence. However, the provision of late fee motivates a person to be in time. 2. See the language of Section 125 "----------may extend to twenty five thousand rupees" It means maximum penalty is 25,000/- and minimum amount of penalty depends upon the degree of gravity of offence. He cannot go beyond Rs.25,000/- bu....
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....t below Rs.25,000/- is his discretion. 3. No. Both are exclusive. Reply By vignesh VSACCOUNTOPRIVATELIMITED: The Reply: Thank u Guruji for the reply Reply By KASTURI SETHI: The Reply: Dear Vignesh Ji, Have you received SCN on this issue ? If so, you may please post relevant contents here. Reply By KASTURI SETHI: The Reply: In continuation to my replies, in my view penalty cannot be impose....
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....d for late filing Annual Return with late fee but penalty can be imposed under Section 125 for NOT filing Annual Return. Reply By vignesh VSACCOUNTOPRIVATELIMITED: The Reply: Content of notice - Please note that as per section 47 of the TNGST Act 2017, a late fee of two hundred rupees ( Rs 100 CGST and Rs. 100 SGST) is liable to pay for every day during which such failure continues subject to a ....
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....maximum of an amount calculated at a quarter per cent of turnover in the State. Apart from the above late fee , a general penalty under section 125 of the TN GST Act 2017 is liable to pay which may extend to fifty thousand rupees (Rs. 25000/- -CGST and Rs. 25000 - SGST) will also be levied . Reply By KASTURI SETHI: The Reply: This is neither the intention of the legislature nor the Govt. I am f....
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....irm.You must fight the case. I suggest you to try to trace out the case law on the issue pertaining to pre-GST era. I remember very well that during Central Excise era such case was dropped by CESTAT. Must try.<br> Discussion Forum - Knowledge Sharing ....