Eye Share: Compounding of Offences

To ensure tax compliance, there are certain deterrents in the fiscal legislation i.e. charging of interest, imposition of penalty and launching `of prosecution against tax delinquents. Immunity from prosecution may be prayed through compounding procedures u/s 138 of the CGST Act, 2017.Author Suruchi Agrawal (Partner, Vimal & Seksaria, Chartered Accountants), opines how offences are categorized depending on the gravity of violation and based on the same, the amou...