I have made payment of wrongly availed credit vide TRAN-1 through DRC-03.
Am i liable for 15% penalty before issuance of any notice?
or only liable for payment alongwith interest?
Menu
penalty on transitional credit
Replies (1)
Yes ....... Before issuance of Notice if taxpayer discharge the liability as per section 73(1) CGST Act is liable to pay penalty 15%
Recent Threads
- Planning of Ceased a Business i.e Closure of Compa
- Property value in 26QB
- Form 26QB Multiple Buyer/Multiple seller
- Company Formation for clothing business
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
Related Threads
CAclubindia
