GST Officer empowered to recover penalty by sale of goods or conveyance seized in transit

GST Officer empowered to recover penalty by sale of goods or conveyance seized in transit Central Board of Indirect Taxes and Customs [CBIC] has notified Rule 144A inserted with effect from the 1st day of January 2022. As per the rule where the person transporting any goods or the owner of such goods fails to pay the amount of penalty under sub-section (1) of section 129 within fifteen days from the date of receipt of the copy of the order passed under sub-section (3) of the said section 129, the proper officer shall proceed for sale or disposal of the goods or conveyance so detained or seized by preparing an inventory and estimating the market value of such goods or conveyance. You May Also Refer: CBIC amends Rule 36(4) Input Tax Credit to be taken on the basis of GSTR-2B Provided that where the detained or seized goods are perishable or hazardous in nature or are likely to depreciate in value with the passage of time, the said period of fifteen days may be reduced by the proper officer. You May Also Refer: GTR9 & GSTR 9C due date extended for F.Y 2020-21 from 31 Dec to 28th Feb 2022 Click on the Link given below to read the whole process and the complete notification.