How to differentiate Compounding of offences with Inspection memo?
What is Compounding of offences? How does Inspection memo work under GST regime? What are the difference between Compounding of offences and Inspection memo?
Under GST system, the following information explains about Compounding of offences and Inspection memo.
As per GST terms, Compounding of offences means any offence under this Act may, either before or after the institution of prosecution, be compounded by the Commissioner on payment, by the person accused of the offence, to the Central Government or the State Government, as the case be, of such compounding amount in such manner. Inspection memo means a new provision under the CGST/SGST Act. It is a softer provision than search to enable officers to access any place of business of a taxable person and also any place of business of a person engaged in transporting goods or who is an owner or an operator of a warehouse or godown.
The details about Compounding of offences and Inspection memo with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Compounding of offences and Inspection memo, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Compounding of offences and Inspection memo separately below. You may kindly read the below links to know more about Inspection memo and Compounding of offences.
Compounding of offences means
Meaning of term Inspection memo under CGST, IGST Act.
The above information easily explains about Inspection memo and Compounding of offences.
I hope, you have satisfied with the difference between Compounding of offences and Inspection memo explained above. Do you have different thought on difference between Inspection memo and Compounding of offences?
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