alleryStart learning →The fine in lieu of confiscation of goods cannot exceed which amount?
ATax on the goods
BTwice the tax on goods
CMarket value less tax
DCost price of goods
Answer & Solution
Correct answer: C. Market value less tax
The proviso to section 130(2) caps the fine at the market value of the goods minus the tax chargeable.
Keep practising Demands and Recovery, Offences and Penalties
Browse all Demands and Recovery, Offences and Penalties questions for CA Final, or explore more Indirecttaxlaws topics.
Related questions
When a company commits a GST offence, who besides the company is deemed guilty under sectiA signed statement made on a section 70 summons becomes relevant under which section in a For section 135, a fact is proved only when the court believes it exists to what standard?In a GST prosecution needing a culpable mental state, what does the court presume?A Government servant is prosecuted under section 133 only with sanction of whom?A person engaged in statistics who wilfully discloses return contents faces imprisonment uWhose previous sanction is needed to prosecute a person for an offence under section 132?Which GST offences are cognizable and non-bailable under section 132(5)?