Maximum penalty for seized goods would be 150% of tax payable on such goods under Gujarat VAT Act

CST & VAT : Gujarat VAT - Where officer-in-charge of check-post detained a truck carrying goods of assessee and further he by an order passed under section 68(5) assessed tax payable on goods at Rs. 1.65 lakhs and imposed penalty at 150 per cent of said amount, officer-in-charge was directed to release truck along with goods subject to assessee depositing Rs. 54,000