GST Penalty if the Tax collected not Paid

By | September 8, 2018
(Last Updated On: September 8, 2018)

Whether any penalty is payable, if the self-assessed tax or any amount collected as tax is not remitted?

Yes. Penalty shall be leviable under section 73(11) , where the self-assessed tax or any amount collected as tax is not paid within 30 days from the due date of payment of such tax.

Quantum of penalty leviable shall be

  • 10% of the tax or
  • Rs10,000/-,

whichever is higher.

Note : Section 73 deals with  : Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason other than fraud or any wilful misstatement or suppression of facts

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