As per Rule 141 of the CGST Rules 2017, if the taxpayer does not pay the amount, then the commissioner can dispose of the goods seized from the taxpayer and adjust the same against the tax payable, interest, penalty or any other amount payable in respect of such goods.
GST Tip – 322
As per Rule 141 of the CGST Rules 2017, in case if the goods seized are of perishable or hazardous in nature of the taxpayer, the said goods can be released, if the owner of the goods pays an amount equivalent to the market price of such goods or things or the amount of tax, interest, and penalty that is or may become payable. On submission of proof of payment, the concerned officer may order the release of the said goods through FORM GST INS-05.
GST Tip – 321
As per Rule 140 of the CGST Rules, if the goods are not produced before the concerned officer on the date said by the person whose goods are seized, the officer can encash the security provided and adjusted against the tax, interest and penalty and fine, if any, payable in respect of such goods.
GST Tip – 320
As per Rule 139 of CGST Rules 2017, the officer who is seizing the goods, documents, books or things shall prepare an inventory of such goods or documents or books or things containing along with the description, quantity or unit, make, mark or model, where applicable, and get it signed by the person from whom such goods or documents or books or things are seized.
GST Tip – 319
As per Rule 139, on the seizure of the goods by the concerned officer, the tax payer can get the same released provisionally on submission of a bank guarantee for the amount equal to applicable tax, interest, and penalty payable along with execution of the bond in FORM GST INS-04.
GST Tip – 316
As per Rule 139 of CGST Rules, an officer not below the rank of Joint Commissioner can issue an order for Inspection, search and seizure as per section 67 of the CGST Act in FORM GST INS-01 authorising any other officer subordinate to him to conduct the inspection or search or, as the case may be, seizure of goods, documents, books or things liable to confiscation.
GST Tip – 315
As per Rule 46 of the CGST Rules, a registered taxpayer can issue a consolidated tax invoice at the end of the day if the transaction value is less than or equal to Rs 200 if the recipient does not require tax invoice or recipient is a non-registered taxpayer.
GST Tip – 311
As per rule 120 of CGST Rules 2017, goods sent on sale or approval basis have before the appointed date has to be declared in FORM GST TRAN – 1, within 90 days from the appointed date.
GST Tip – 298
As per Rule 46 of the CGST Rules 2017, a registered tax payer, other than a composition taxpayer can issue a consolidated tax invoice at the end of the day for all the transaction where tax invoices are not issued for a value less than Rs 200 per transaction.