Summary of Waiver of Interest and Penalties for Tax demands under section 128A of CGST Act.
Government has issued Notification No 21/2024 -Central Tax to Waiver of Interest and Penalties for Tax demands under section 128A of CGST Act.
- On the recommendation of the 54th GST Council meeting, a specific date for payment of Tax Liability has been set for taxpayers who want to waive off their interest or penalties or both related to tax demands for FY 2017-18, 2018-19 and 2019-20. This waiver is allowed under section 128A of the CGST Act,2017.
- As per Notification no 21/2024-CT, the government has declared a specific date by which the tax liability has to be disposed of for certain types of Taxpayers as per section 128A. The specific date is as follows: This is effective from 01-11-2024.
| Sr No | Class of Registered Person | Date up to which payment can be made to waive off the Interest, penalty or both |
| 1 | Registered persons to whom a notice or statement or order, referred to in clause (a) or clause (b) or clause (c) of section 128A of the said Act, has been issued. | 31-03-2025 |
| 2 | Registered persons to whom a notice has been issued under sub-section (1) of section 74, in respect of the period referred to in sub-section (1) of section 128A of the said Act, and an order is passed or required to be passed by the proper officer in pursuance of the direction of the Appellate Authority, or Appellate Tribunal, or a court, in accordance with the provisions of sub section (2) of section 75, for determination of the tax payable by such person, deeming as if the notice were issued under sub-section (1) of section 73 of the said Act. | Date ending on completion of six months from the date of issuance of the order by the proper officer redetermining tax under section 73 of the said Act. |
