Q 7. What should be the contents of the settlement application?
Ans. The settlement application should contain full and true disclosure of:
i. tax Liability which has not been disclosed to the proper officer of IGST;
ii. manner of deriving such tax liability;
iii. additional amount of tax which he accepts to be payable;
iv. other particulars such as misclassification, exemption notification because of which he admits to short payment.
