TMI Blog2023 (12) TMI 826X X X X Extracts X X X X X X X X Extracts X X X X ..... se (a) of Section 129 of the Central Goods and Services Tax Act, 2017 - HELD THAT:- The goods have already been released. The enhanced security shall be deposited within a period of one month from today. Thereafter, the authority shall take out appropriate proceedings for assessment of the tax liability/penalty - The said security deposit shall remain subject to the result of the said adjudicatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Central Goods and Services Tax Act, 2017 as has been determined in the order passed by the appellate authority. The relevant provisions are extracted herein under:- Section 129 - Detention, seizure and release of goods and conveyances in transit (1) Notwithstanding anything contained in this Act, where any person transports any goods or stores any goods while they are in transit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n and, in case of exempted goods, on payment of an amount equal to five per cent. of the value of goods or twenty-five thousand rupees, whichever is less, where the owner of the goods does not come forward for payment of such tax and penalty; (c) upon furnishing a security equivalent to the amount payable under clause (a) or clause (b) in such form and manner as may be prescribed: Provided t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eemed to be concluded. (6) Where the person transporting any goods or the owner of the goods fails to pay the amount of tax and penalty as provided in sub-section (1) within fourteen days of such detention or seizure, further proceedings shall be initiated in accordance with the provisions of Section 130: Provided that where the detained or seized goods are perishable or hazardous in nature ..... X X X X Extracts X X X X X X X X Extracts X X X X
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