The Central Board of Indirect Taxes and Custom(CBIC) has notified Rules for compounding of amount for offence committed under Section 132 of CGST Act via issuing Notification.
Reetu | Aug 5, 2023 |
CBIC notifies Rules for compounding of amount for offence committed under Section 132 of CGST Act
The Central Board of Indirect Taxes and Custom(CBIC) has notified Rules for compounding of amount for offence committed under Section 132 of CGST Act via issuing Notification.
In the said rules, in rule 162, with effect from the 1st day of October, 2023, –
(a) in sub-rule (3), the words “has cooperated in the proceedings before him and” shall be omitted;
(b) after sub-rule (3), the following sub-rule shall be inserted, namely:-
“(3A) The Commissioner shall determine the compounding amount under sub-rule (3) as per the Table below:-
Provided that where the offence committed by the person falls under more than one category specified in the Table above, the compounding amount, in such case, shall be the amount determined for the offence for which higher compounding amount has been prescribed.”.
For Official Notification Download PDF Given Below:
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