Are there any monetary limits prescribed for compounding of offence
Question 25
Bill
Offences and Penalties, Prosecution and Compounding
FAQ on GST dated 21.9.2016 based on Draft Model GST
Q 25. Are there any monetary limits prescribed for compounding of offence?
Ans. Yes. The lower limit for compounding amount is to be the greater of the following amounts:
* 50% of tax involved, or
* 10,000.
The upper limit for compounding amount is to be greater of the following amounts:
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =