(1) Where the goods or things seized are of perishable or hazardous nature, and if the taxable person pays an amount equivalent to the market price of such goods or things or the amount of tax, interest and penalty that is or may become payable by the taxable person, whichever is lower, such goods or, as the case may be, things shall be released forthwith, by an order in FORM GST INS-05, on proof of payment.
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(2) Where the taxable person fails to pay the amount referred to in subrule (1) in respect of the said goods or things, the ![proper officer| may dispose of such goods or things and the amount realized thereby shall be adjusted against the tax, interest, penalty, or any other amount payable in respect of such goods or things.
CHAPTER - XVIII DEMANDS AND RECOVERY 2[142. Notice and order for demand of amounts payable under the Act.- 1 These words were substituted for the word “Commissioner” by Notification No.GST-1020/C.R.36/Taxation-1, (Notification No.16/2020 Third Amendment 2020) dated 30th March 2020.
2 This rule was substituted by Notification No. GST-1019/C.R. 46/Taxation-1, (Notification No.16 /2019 Second Amendment), dt.30th March 2019, (w. e. f. 1st April 2019). Prior to substitution this rule read as under:
“142. Notice and order for demand of amounts payable under the Act.- (1) The proper officer shall serve, along with the
(a) notice under sub-section (1) of section 73 or sub-section (1) of section 74 or sub-section (2) of section 76, a summary thereof electronically in FORM GST DRC-01,
(b) statement under sub-section (3) of section 73 or sub-section (3) of section 74, a summary thereof electronically in FORM GST DRC-02, specifying therein the details of the amount payable.
(2) Where, before the service of notice or statement, the person chargeable with tax makes payment of the tax and interest in accordance with the provisions of sub-section (5) of section 73 or, as the case may be, tax, interest and penalty in accordance with the provisions of sub-section (5) of section 74, he shall inform the proper officer of such payment in FORM GST DRC-03 and the proper officer shall issue an acknowledgement, accepting the payment made by the said person in FORM GST DRC-04.
(3) Where the person chargeable with tax makes payment of tax and interest under sub-section (8) of section 73 or, as the case may be, tax, interest and penalty under sub-section (8) of section 74 within thirty days of the service of a notice under sub-rule (1), he shall intimate the proper officer of such payment in FORM GST DRC- 083 and the proper officer shall issue an order in FORM GST DRC-05 concluding the proceedings in respect of the said notice.
(4) The representation referred to in sub-section (9) of section 73 or sub-section (9) of section 74 or sub-section
(3) of section 76 shall be in FORM GST DRC-06.
(5) A summary of the order issued under sub-secti