Initiation of Section 130 Proceedings: However, if there is failure to pay the amount of tax and penalty within fourteen days of such detention or seizure, further proceedings shall be initiated in accordance with the provisions of section 130 such as issuance of notice and order for confiscation of goods and conveyance. On payment of amount determined, all proceedings in respect of the notice is deemed to be concluded. Order for Payment: After hearing the party concerned, the officer is to pass a speaking order quantifying the tax and penalty payable under clause (a) or clause (b) or clause (c) of Section 129. (c) upon furnishing a security equivalent to the amount payable under clause (a) or clause (b) in such form and manner as may be prescribed. of the value of goods or twenty-five thousand rupees, whichever is less, where the owner of the goods does not come forward for payment of such tax and penalty of the value of the goods reduced by the tax amount paid thereon and, in case of exempted goods, on payment of an amount equal to five per cent. (b) on payment of the applicable tax and penalty equal to the fifty per cent. of the value of goods or twenty-five thousand rupees, whichever is less, where the owner of the goods comes forward for payment of such tax and penalty. of the tax payable on such goods and, in case of exempted goods, on payment of an amount equal to two per cent. ![]() (a) on payment of the applicable tax and penalty equal to one hundred per cent. Regarding release of goods, Section 129(1) states, the detained goods and conveyance shall be released,. Section 67(6) states that the goods seized under shall be released, on a provisional basis, upon execution of a bond and furnishing of a security, in such manner and of such quantum, respectively, as may be prescribed or on payment of applicable tax, interest and penalty payable, as the case may be. ![]() Provisional Release: As per Section 129(2), the provisions of section 67(6) shall, mutatis mutandis, apply for detention and seizure of goods and conveyances. Order of Detention and Issuance of Notice: However, if discrepancy is found, the officer may pass an order of detention and issue a notice as per Section 129 (3) and (4) specifying the tax and penalty payable after giving the person concerned an opportunity of being heard. ![]() Release: If no discrepancies are found during the inspection and verification process, an order shall be passed releasing the vehicle and goods.
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