Deepak Garg started supply of goods within the state of Rajasthan from 1st December 2018. His turnover exceeded ₹20 lakh on 25th January 2019. However, he didn't apply for registration. Determine the amount of penalty, i
CS Professional · Advanced Tax Laws · PYQS · June 2019
Deepak Garg started supply of goods within the state of Rajasthan from 1st December 2018. His turnover exceeded ₹20 lakh on 25th January 2019. However, he didn't apply for registration. Determine the amount of penalty, if any, that may be imposed on Deepak Garg under CGST Act, 2017 on 31st March 2019, if the tax evaded as on said date, on account of failure to obtain registration is ₹8,000.
Answer & Explanation:
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, shall be liable to pay a penalty of ten thousand rupees or an amount equivalent to the tax evaded whichever is higher. In this case, the tax evaded is ₹8,000. The minimum penalty is ₹10,000. Hence Deepak Garg is liable for penalty of ₹10,000 .
Topics: GST
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