From the following details of April, 2022, calculate the amount to be paid, for release of goods detained or seized u/s 129 of the CGST Act, 2017, if owner of the goods does not come forward for payment of applicable tax

If owner of the goods does not come forward for payment of applicable tax and penalty, the amount to be paid for release of goods detained or seized under section 129 of the Central Goods and Services Tax (CGST) Act 2017, is payment of penalty equal to 50% of value of goods or 200% of tax, whichever is higher. Therefore, amount payable higher of: 50% of ₹ 30,00,000 = ₹ 15,00,000 Or 200% of ₹ 3,60,000 = ₹ 7,20,000 So ₹ 15,00,000 to be paid. However, in case of exempted goods, amount to be paid for release of goods detained is equal to 5% of the value of goods or ₹ 25,000, whichever is less. = 5% of ₹ 30,00,000 or ₹ 25,000, whichever is less = ₹ 1,50,000 or ₹ 25,000 = ₹ 25,000 to be paid In all the above situations, the goods shall also be released on furnishing of security equal to the amount of penalty determined under each such situation.