TMI Bloghow to pay tax determined under audit under section 65X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear sir, how to discharge tax determined under GST audit u/s 65 can I pay it under DRC-3 under section 73 (5) as voluntary payment ? - Reply By Shilpi Jain - The Reply = Yes. This can be paid in DRC-03 as stated in your query - Reply By KASTURI SETHI - The Reply = It is not a voluntary payment of GST. It is not self disclosure. You intend to pay on being pointed out by the depa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtment. In case you pay GST along with interest through DRC-03 showing voluntary payment of tax under Section 73 (5) , the department may accept such payment of tax under Section 74(5) and not under Section 73 (5) The difference between both sub-sections i.e. Section 73(5) and 74(5) is that penalty 15 % of tax not paid is required to be to be deposited under Section 74(5) . . In ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er to close the proceedings, better option is to pay tax with interest and penalty otherwise SCN will be issued. - Reply By Shilpi Jain - The Reply = The important aspect as pointed out by Kasturi sir would be that there should not be any suppression or fraud involved in this case. If that is so penalty should not be liable. This can be contended in the reply given to any notice that maybe issu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the department. - Reply By Shilpi Jain - The Reply = Also if you look at the provision in section 73 (5) , even where the tax is paid as ascertained by the proper officer the penalty should not be applicable. There does not seem to be a reference of voluntary payment in such provision. So as long as there is no allegation of fraud, penalty should not be liable - Reply By KASTURI SET ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... HI - The Reply = I concur with all the views of Madam Shilpi Jain. - Reply By Amit Agrawal - The Reply = Legal position is properly explained by Ms. Shilpi Jain. And practically what happens on ground, generally, is also duly explained by Sh Kasturi Sethi. In case of difference of views between assessee and tax-dept. (whether a particular situation is covered either u/s 73 (5) or u/s 74 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (5)) , option left for assessee is either to get SCN and defend itself judicially or pay penalty close the matter. - Reply By KASTURI SETHI - The Reply = Sh. Amit Agrawal Ji, Sir, You have made the position crystal clear. Thanks a lot for your inputs. - how to pay tax determined under audit under section 65 - Query Started By: - RAGHAVENDRA K Dated:- 14-9-2021 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Goods and Services Tax - GST - Got 7 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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