Amendment of Section 130 in the Central Goods and Services Tax Act
Section 130 of the Central Goods and Services Tax Act has undergone several amendments. Firstly, in subsection (1), the phrase "Notwithstanding anything contained in this Act, if" has been replaced with the word "Where," simplifying the language to indicate conditions under which the section applies. Secondly, in subsection (2), the second proviso now specifies that the penalty for certain offenses will be equal to 100% of the tax payable on the goods in question. This replaces the previous wording that referenced a penalty under another subsection, making the penalty clearer and more direct. Lastly, subsection (3) has been completely removed from Section 130, though the specific implications of this omission are not detailed in the amendment summary. These changes aim to streamline the legal text and clarify the penalties associated with violations under this section of the GST Act.
Note: It is an AI generated summary for reference purpose only.
Amendment of section 130.
118. In section 130 of the Central Goods and Services Tax Act,––
(a) in sub-section (1), for the words “Notwithstanding anything contained in this Act, if ”, the word “Where” shall be substituted;
(b) in sub-section (2), in the second proviso, for the words,brackets and figures “amount of penalty leviable under sub-section (1) of section 129”, the words “penalty equal to hundred per cent. of the tax payable on such goods” shall be substituted;
