No. Where the person chargeable with tax pays the tax along with interest under section 50 within 30 days of issue of such show cause notice, no penalty shall be payable The person chargeable with tax shall inform the proper officer of such payment in Form GST DRC-03 and the proper officer shall issue an order in Form GST DRC-05 concluding the proceedings in respect of the said notice. Please note that on such payment, all proceedings in respect of such notice except for proceedings under section 132 shall be deemed to be concluded.
(ICAI FAQ PUBLICATIONS 06-90-2017 Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilized for any reason other than fraud or any willful misstatement or suppression of facts : FAQ NO. 6)