Vijay started supply of goods within the state of Maharashtra from 1st July 2023. His turnover exceeded ₹40 lakh on 25th March, 2024. However, he didn't apply for registration. Determine the amount of penalty, if any tha

CS Professional · Goods and Services Tax (GST) and Corporate Tax Planning · PYQS · December 2024
Vijay started supply of goods within the state of Maharashtra from 1st July 2023. His turnover exceeded ₹40 lakh on 25th March, 2024. However, he didn't apply for registration. Determine the amount of penalty, if any that may be imposed on Vijay under CGST Act, 2017, if the tax evaded by her, as on said date, on account of failure to obtain registration is ₹24,500.

Answer & Explanation:

Answer 3(d) Under section 122(1) of CGST Act, 2017 Where a taxable person who is liable to be registered under this Act but fails to obtain registration, he shall be liable to pay a penalty of ten thousand rupees or an amount equivalent to the tax evaded whichever is higher. Conclusion: Hence Vijay is liable for penalty of ₹24,500 .

Topics: GST Law

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