Question 4 – Draft-Bills-Reports – Offences, Penalties, Prosecution and Compounding – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 4 – Q 4. What is the quantum of penalty provided for in the CGST /SGST Act? Ans. Section 122(1) provides that any taxable person who has committed any of the offences mentioned in section 122 shall be punished with a penalty that shall be higher of the following amounts: • The amount of tax evaded, fraudulently obtained as refund, availed as credit, or n
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