Equipping Modern Enterprises with Powerful GST, E-Way Bill & E-Invoicing Solutions

logo image
  • GST Filing & Reconciliation
  • E-Way Bill Automation & E-Way Bill APIs
  • E-Invoicing Simplified
  • GSTIN Search
  • Expert Assistance

Form GST INS-05

The CGST Rules, 2017 articulates specific rules regarding inspection, search and seizure. The authorised officers, within their rights, serve orders in various forms. In this article, we will discuss one such form –  Form GST INS-05:

What Is Form GST INS-05?

Among the rules regarding inspection, search, and seizure, one of the rules states the procedures in respect of seized goods. As per Rule 141(1) of the CGST Rules 2017, Form GST INS-05 is an order served for releasing of seized goods or things, where:

  • The goods or things that have been seized are of perishable or hazardous nature; and
  • The taxable person has paid at least the lower of these two: –
    • An amount equivalent to the market price of the seized goods or things; or
    • An amount of tax, interest, penalty that is or may become payable,

Note: The proof of payment should be submitted to the proper officer.

What Happens If The Taxable Person Fails To Make The Payment To Release The Seized Goods?

As per Section 141(2) of the CGST Rules 2017, if the taxable person fails to make the payment to release the seized goods or things, then the following shall take place: –

  • The proper officer may dispose of the seized goods or things; and
  • The amount realised after disposing of the seized goods or things shall be adjusted against the tax, interest, penalty, or any other amount payable by the taxpayer (relating to the said goods or things).

Format Of Form GST INS-05

Note: This form is for the use of the proper officer.

Form GST INS-05

GST Compliance

Leave a Comment