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What are the penal consequences if a taxable person violates the condition and is not eligible for payment of tax under the Composition scheme?

QuestionsCategory: GSTWhat are the penal consequences if a taxable person violates the condition and is not eligible for payment of tax under the Composition scheme?
AdviKaur Staff asked 1 year ago

What are the penal consequences if a taxable person violates the condition and is not eligible for payment of tax under the Composition scheme?

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1 Answers
JayeshMehta Staff answered 1 year ago

Taxable person who was not eligible for the composition scheme would be liable to pay tax, interest and
in addition he shall also be liable to a penalty equivalent to the amount of tax payable. (Section 8 (3) of the MGL).

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