Who can apply for settlement

Who can apply for settlement :

As per section 15 of the IGST Act, any taxable person can apply for settlement of a case in relation to which he has been issued one or more show cause notice(s) under the IGST Act and the same is pending before the adjudicating authority or the First Appellate Authority.

His application should contain full and true disclosure of:

i. tax Liability which has not been disclosed to the proper officer of IGST;

ii. manner of deriving such tax liability;

iii. additional amount of tax which he accepts to be payable;

iv. other particulars such as misclassification, exemption notification because of which he admits to short payment.