CCI Online Learning
50% OFF in CA/CS/CMA Subjects
     
CIBIL

Upgrad

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Implications of amendments in GST dated 15.10.2020 in Rule 142 of the CGST Rules

Heet Shah 
on 21 October 2020

LinkedIn


Prior to the amendment to Rule 142 of CGST Rules.

According to Rule 142 of CGST Rule, The proper officer, before servicing notice u/s Section 73(1) or Section 74(1) of CGST Act to a Registered Person, SHALL MANDATORILY Communicate the details of any tax, interest and penalty as ascertained by the said officer, in Part A of FORM GST DRC-01A. Further according to Section 74(5) of CGST Act, If a Registered Person pays the demanded amount as ascertained and communicated by the proper officer in FORM GST DRC-01A then such Registered Person is liable to pay Penalty equivalent to 15%   

Implications of amendments in GST dated 15.10.2020 in Rule 142 of the CGST Rules

Otherwise, If that registered person pays the demanded amount, after servicing of notice u/s Section 73(1) or Section 74(1) of CGST Act, then such registered person is liable to pay Penalty equivalent to 25% according to Section 74(8) of CGST Act, 

 

Post amendment vide notification no.79/2020 dated 15.10.2020 in Rule 142 of CGST Rule, 

The proper officer MAY in his or her DISCRETION, before servicing notice u/s Section 73(1) or Section 74(1) of CGST Act to a Registered Person, Communicate the details of any tax, interest and penalty as ascertained by the said officer, in Part A of FORM GST DRC-01A. So now and onwards The proper officer MAY in his or her DISCRETION not Communicate FORM GST DRC-01A before servicing Notice and directly service a Notice u/s Section 73(1) or Section 74(1) of CGST Act on any Registered Person.  In that case, Such a Registered Person should have to pay a Penalty equivalent to 25% according to Section 74(8) of the CGST Act.

 

Reference:
Notification No. 79 /2020 - Central Tax

Also Read: Implication on HSN Disclosure vide recent GST notifications
Analysis of amendments in 1st proviso to rule 46 for Invoicing under GST

 


Tags :



Category GST
Other Articles by -
Heet Shah 

Report Abuse

LinkedIn



Comments




Grant Thornton

The Law & Practice

Bajaj Finserve

Upgrad

Upgrad


Popular Articles


loading

CCI Articles

submit article

Stay updated with latest Articles!





GST Live Class    |    x