Paradox Of “Self-Assessed Tax” Under Section 73 Of CGST Act, 2017: Reconciling Voluntary Compliance With Mandatory Penalty

The legislative scheme of GST acknowledges that taxpayers may occasionally commit inadvertent errors in reporting tax liabilities and therefore provides mechanisms for self-correction without immediately triggering adjudication proceedings.This philosophy finds clear expression in Section 73 of the CGST Act, 2017 which governs determination of tax...