Rule 154 of CGST Rules 2017: Disposal of Proceeds of Sale of Goods and Movable or Immovable Property

Rule 154 of ‘Central Goods and Services Tax (CGST) Rules 2017’: Disposal of Proceeds of Sale of Goods and Movable or Immovable Property

Provisions under Rule 154 of the Central Goods and Services Tax (CGST) Rules, 2017 relating to “Disposal of Proceeds of Sale of Goods and Movable or Immovable Property”, are as under:

CGST Rule 154: Disposal of Proceeds of Sale of Goods and Movable or Immovable Property (Chapter-XVIII: DEMANDS AND RECOVERY) 

The amounts so realised from the sale of goods, movable or immovable property, for the recovery of dues from a defaulter shall,-

(a) first, be appropriated against the administrative cost of the recovery process;

(b) next, be appropriated against the amount to be recovered;

(c) next, be appropriated against any other amount due from the defaulter under the Act or the Integrated Goods and Services Tax Act, 2017 or the Union Territory Goods and Services Tax Act, 2017 or any of the State Goods and Services Tax Act, 2017 and the rules made thereunder; and

(d) any balance, be paid to the defaulter.

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Above information is based on Updated Compilation of “CGST Rules 2017” (as amended upto 10 Sept. 2018) shared by CBIC (i.e. as notified/ amended upto 10 Sept. 2018 by the CBIC). For detailed information/ subsequent updates, please refer relevant Notifications.

It may be noted that Rules 139 to 162 (pertaining to various Chapters) of the Central Goods and Services Tax (CGST) Rules, 2017 were initially notified by CBIC (CBEC) vide CGST (3rd Amendment) Rules, 2017 Notification No. 15/2017 Central Tax dt. 1 July 2017, applicable w.e.f. 1 July 2017.

Related Posts:

Central Goods and Services Tax (CGST) Rules, 2017 (Chapter-wise/ Rule-wise)

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