172. The following demand was confirmed to Mr. A on non-payment of which recovery proceedings were initiated by the department on 20th September 2017.
Tax: 3 lacs
Interest u/s 50
penalty: 50,000
Discuss
the mode of recovery if:
(i)
Amount Rs.10,000 was owing to Mr A, which was under the control of
department
(ii)
The department had goods worth Rs.20,000 under
detention.
(iii)
The department has
seized an immovable property of A costing Rs.5 lakh.
As per section 79 of the CGST Act, The amount due can be recovered by the department in the following manner::
(i) Amount owing to A under the control of officer= Rs.10,000, which will be approppriated.
(ii) Selling the detained goods Rs.20,000
(iii) Selling the immovable property and retain Rs.3,20,000 along with interest u/s 50 and pay the balance to the taxable person.