CONFISCATION OF GOODS AND CONVEYANCES AND PENALTY THERE0F

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....y person indulges in the following acts, then all such goods or conveyances used shall be liable to confiscation and the person shall be liable to penalty under Section 122 of the CGST Act, 2017 - (i) supplies or receives any goods in contravention of any of the provisions of this Act or the rules made thereunder with intent to evade payment of tax; or (ii) does not account for any goods on wh....

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.... lieu of confiscation, as the said officer thinks fit. However, such fine leviable shall not exceed the market value of the confiscated goods, less the tax chargeable thereon. Also, the aggregate of such fine and penalty shall not be less than the penalty equal to 100% of the tax payable on such goods. 11.4 If any conveyance is used for the carriage of the goods or passengers for hire, the owner ....