Penalty Puzzle under GST: Section 122 or 73/74?

Experts are debating whether penalties for non-payment, short-payment of tax, and other offenses under the GST regime should be levied under Section 122 or Sections 73/74 of the CGST Act.
Some argue that sections 73/74 are self-sufficient and have independent penalty levying provisions, while others believe that section 122 of the Act is a penalty-levying provision.
The intention of the legislature and the position under the Central Excise Act, 1944 are also being considered. Some argue that reading section 122 into sections 73/74 would frustrate the reduced-penalty mechanisms provided under the said provisions, rendering them unworkable and otiose.
However, others believe that the scheme of the Act does not envisage sections 73/74 as independent penalty levying provisions, but rather as tax determination mechanisms and proceedings in which penalty can be imposed.