Process Limited commenced business of trading of goods in the State of Assam on 1st April, 2024. Aggregate turnover of the company crossed 20 lakh…

Process Limited commenced business of trading of goods in the State of Assam on 1st April, 2024. Aggregate turnover of the company crossed 20 lakh on 31st May, 2024 and 40 lakh on 15th July, 2024. The company made the application for registration under GST law on 25th July, 2024 and the registration certificate was granted on 30th July, 2024. The company has opted to file return on monthly basis under regular scheme. The company was exclusively engaged in supply of taxable goods only. The company had following input tax credit lying in the books related to input and input service on different dates: Particulars Amount in (₹) 30 th May, 2024 14 th July, 2024 24 th July, 2024 29 th July, 2024 Input held in stock 10,000 15,000 20,000 40,000 Input services 4,000 6,000 12,000 14,000 During the month of January 2025, the company has installed solar panel at the office Mohanises. Details regarding the installation of solar panel were as follow: Particulars Amount List Price of the solar panel 5,50,000 Additional information not adjusted or given effect in the list price (a) Trade discount recorded in invoice @ 3% on list price. (b) Local taxes paid - 15,000. (c) Cost of packing, outward freight, loading-unloading and installation charges - 12,000 as a condition of sale. Apart from the above, Process Limited received - 2,00,000 as advance payment on 2nd January, 2025 from Mr. Mohan, a customer, with respect to the taxable supply of goods of 10,00,000. The company removed the goods on 9th January, 2025 and issued the invoice on 10th January, 2025. Goods were received by Mr. Mohan on 11th January, 2025 and Mr. Mohan had made the balance payment of 8,00,000 on 20th January, 2025 through NEFT. In addition to the above, due to oversight, the company failed to disclose a self-assessed outward supply of 2,00,000 while filing the GSTR-3B for the month of August, 2024. Balance of input tax credit for the month of August, 2024 in the electronic credit ledger was of 10,000/- each under CGST and SGST which remains till date of deposit of tax. Company filed the return for the month of August, 2024 on the due date of return on 20th September, 2024. The company disclosed this supply in the return (GSTR 3B) for the month of January, 2025 and paid the net tax (after set off of ITC of 10,000 each CGST and SGST) with interest in the GSTR 3B filed on 18th February, 2025. The proper officer issued show cause notice on 25th February, 2025 demanding the penalty for late deposit of tax on escaped supply relating the month of August, 2024. Note: All amounts given above are exclusive of taxes, wherever applicable. All supplies are intra-State and chargeable to GST @ 9% each under CGST and SGST. Based on the facts of the case scenario given above, choose the correct answer to Question Nos. 7 to 12 below: