Ch 4 · GST — Assessment, Audit & Demands

🧮 Formula sheet

1. 1.Sec 73 penalty: 10% of tax or ₹10,000 whichever higher (after SCN); no penalty if paid before SCN
2. 2.Sec 74 penalty: 100% if not paid before SCN; reduced to 25%/50% if paid early
3. 3.Interest under Sec 50: 18% p.a. (24% for unauthorised ITC utilisation)