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For effective implementation of GST law, it requires strict action against the tax offenders. The Government has come up with three approaches Penalties under GST registration for the offenders:
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The word penalty is not defined under the GST Act, so the reference of various judicial pronouncements and principal of jurisprudence needs to be taken. In simple words, we can say that a penalty is a punishment imposed by law for committing an offence or failing to do something which the person is liable to do. The penalty can be divided into two parts i.e. civil or criminal. The Act list out 21 offences under section 122(1) which are subject to a penalty of Rs.10, 000 or the amount of tax involved, whichever is greater.
In the case of the company the companies’ officers/Directors in charge as well the company will be held liable. In case of HUF/LLP/Trust, the Karta/Partner/managing trustee will be held liable.
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