This penalty is charged if a person has wrongly claimed the benefit of Composition Scheme

He will be liable to pay

Tax Payable Under Normal Schem

+

Penalty equal to Amount of Such tax

  1. Taxation for CA, CS, CMA Bcom M Com Exams May - June 2018
  2. GST for Exams

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 9 years. He also provides Accounts Tax GST Training in Delhi and Pune.