GST Amnesty Scheme 2024 Notified: Section 128A for Interest and Penalty Waiver Effective from 01.11.2024 (2024)

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CBIC has notified the GST Amnesty Scheme 2024 under Section 128A for waiver of Interest and Penalty that will be effective from 01.11.2024.

CBIC notiifed GST Amnesty Scheme 2024 applicable from 1st Nov 2024

Reetu | Sep 28, 2024 |

GST Amnesty Scheme 2024 Notified: Section 128A for Interest and Penalty Waiver Effective from 01.11.2024

The Central Board of Indirect Taxes and Customs (CBIC) has notified the GST Amnesty Scheme 2024 under Section 128A for waiver of Interest and Penalty that will be effective from 01.11.2024. The CBIC notified the same issuing a Notification dated 27th September 2024.

The Notification Read as Follows:

In exercise of the powers conferred by clause (b) of sub-section (2) of section 1 of the Finance (No. 2) Act, 2024 (15 of 2024), the Central Government hereby appoints:

(a) the date of publication of this notification in the Official Gazette, as the date on which the provisions of sections 118, 142, 148 and 150 of the said Act shall come into force; and

(b) the 1st day of November, 2024, as the date on which the provisions of sections 114 to 117, 119 to 141, 143 to 147, 149 and 151 to 157 of the said Act shall come into force.

Section 146 of Finance Act 2024 (No.2) introduced the Insertion of new Section 128A, which is for waiver of interest or penalty or both relating to demands raised under section 73, for certain tax periods.

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After section 128 of the Central Goods and Services Tax Act, the following section shall be inserted, namely:––

“128A. (1) Notwithstanding anything to the contrary contained in this Act, where any amount of tax is payable by a person chargeable with tax in accordance with,––

(a) a notice issued under sub-section (1) of section 73 or a statement issued under sub-section (3) of section 73, and where no order under sub-section (9) of section 73 has been issued; or

(b) an order passed under sub-section (9) of section 73, and where no order under sub-section (11) of section 107 or sub-section (1) of section 108 has been passed; or

(c) an order passed under sub-section (11) of section 107 or sub-section (1) of section 108, and where no order under sub-section (1) of section 113 has been passed, pertaining to the period from 1st July 2017 to 31st March 2020, or a part thereof, and the said person pays the full amount of tax payable as per the notice or statement or the order referred to in clause (a), clause (b) or clause (c), as the case may be, on or before the date, as may be notified by the Government on the recommendations of the Council, no interest under section 50 and penalty under this Act, shall be payable and all the proceedings in respect of the said notice or order or statement, as the case may be, shall be deemed to be concluded, subject to such conditions as may be prescribed:

Provided that where a notice has been issued under sub-section (1) of section 74, 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, the said notice or order shall be considered to be a notice or order, as the case may be, referred to in clause (a) or clause (b) of this sub-section:

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Provided further that the conclusion of the proceedings under this sub-section, in cases where an application is filed under sub-section (3) of section 107 or under sub-section (3) of section 112 or an appeal is filed by an officer of central tax under sub-section (1) of section 117 or under sub-section (1) of section 118 or where any proceedings are initiated under sub-section (1) of section 108, against an order referred to in clause (b) or clause (c) or against the directions of the Appellate Authority or the Appellate Tribunal or the court referred to in the first proviso, shall be subject to the condition that the said person pays the additional amount of tax payable, if any, in accordance with the order of the Appellate Authority or the Appellate Tribunal or the court or the Revisional Authority, as the case may be, within three months from the date of the said order:

Provided also that where such interest and penalty have already been paid, no refund of the same shall be available.

(2) Nothing contained in sub-section (1) shall be applicable in respect of any amount payable by the person on account of an erroneous refund.

(3) Nothing contained in sub-section (1) shall be applicable in respect of cases where an appeal or writ petition filed by the said person is pending before the Appellate Authority or Appellate Tribunal or a court, as the case may be, and has not been withdrawn by the said person on or before the date notified under sub-section (1).

(4) Notwithstanding anything contained in this Act, where any amount specified under sub-section (1) has been paid and the proceedings are deemed to be concluded under the said sub-section, no appeal under sub-section (1) of section 107 or sub-section (1) of section 112 shall lie against an order referred to in clause (b) or clause (c) of sub-section (1), as the case may be.”.

Summary of Sections of Finance Act notified: Section of CGST Act

Section of Finance Act	Notified w.e.f.	Section of CGST Act	Subject
118	27-09-24	Amendment of section 16	Due Date for Claiming ITC for Financial Years 2017-18, 2018-19, 2019-20 and 2020-21 extended to 30/11/2024
142	27-09-24	Amendment of section 109	Amendments related to GST Tribunal
148	27-09-24	Amendment of section 171	Amendments related to Antiprofiteering measure
150	27-09-24		No refund shall be made of all the tax paid or the input tax credit reversed, which would not have been so paid, or not reversed, had section 118 been in force at all material times
114	01-11-24	Amendment of section 9	In CGST Act, in section 9, in sub-section (1), after the words “alcoholic liquor for human consumption”, the words “and un-denatured extra neutral alcohol or rectified spirit used for manufacture of alcoholic liquor, for human consumption” shall be inserted
115	01-11-24	Amendment of section 10	In section 10 “Composition levy” of the CGST Act, in sub-section (5), after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted.
116	01-11-24	Insertion of new section 11A	New Section 11A inserted. It Deals with “Power not to recover Goods and Services Tax not levied or short-levied as a result of general practice”
117	01-11-24	Amendment of section 13	Amendments related to Time of Supply of Services in case where tax is paid or liable to be paid on reverse charge basis
119	01-11-24	Amendment of section 17	In section 17 “Apportionment of credit and blocked credits” of CGST Act, in sub-section (5), in clause (i), for the words and figures “sections 74, 129 and 130”, the words and figures “section 74 in respect of any period up to Financial Year 2023-24” shall be substituted.
120	01-11-24	Amendment of section 21	In section 21 “Manner of recovery of credit distributed in excess” of the CGST Act, after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted.
121	01-11-24	Amendment of section 30	In section 30(2) “Revocation of cancellation of registration”, after the proviso, the following proviso shall be inserted, namely:— “Provided further that such revocation of cancellation of registration shall be subject to such conditions and restrictions, as may be prescribed.”.
122	01-11-24	Amendment of section 31	Amendments related to Tax Invoice in case where tax is paid or liable to be paid on reverse charge basis
123	01-11-24	Amendment of section 35	In section 35 “Accounts and other records” of the CGST Act, in sub-section (6), after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted.
124	01-11-24	Amendment of section 39	Section 39. Furnishing of returns Registered person shall furnish a return for every calendar month whether or not any TDS deductions have been made during the said month or not.
125	01-11-24	Amendment of section 49	In section 49 “Payment of tax, interest, penalty and other amounts” of the CGST Tax Act, in sub-section (8), in clause (c), after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted
126	01-11-24	Amendment of section 50	In section 49 “Interest on delayed payment of tax” of the CGST Tax Act, in sub-section (1), in the proviso, after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted.
127	01-11-24	Amendment of section 51	In section 51 “Tax deduction at source” of the CGST Tax Act, in sub-section (7), after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted.
128	01-11-24	Amendment of section 54	No refund of unutilised input tax credit on account of zero rated supply of goods or of integrated tax paid on account of zero rated supply of goods shall be allowed where such zero rated supply of goods is subjected to export duty
129	01-11-24	Amendment of section 61	In section 61 “Scrutiny of returns” of the CGST Tax Act, in sub-section (3), after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted.
130	01-11-24	Amendment of section 62	In section 62 “Assessment of non-filers of returns” of the CGST Act, in sub-section (1), after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted.
131	01-11-24	Amendment of section 63	In section 63 “Assessment of unregistered persons” of the CGST Act, after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted.
132	01-11-24	Amendment of section 64	In section 64 “Summary assessment in certain special cases” of the CGST Act, in sub-section (2), after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted.
133	01-11-24	Amendment of section 65	In section 65 “Audit by tax authorities” of the CGST Act, in sub-section (7), after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted.
134	01-11-24	Amendment of section 66	In section 66 “Special audit” of the CGST Act, in sub-section (6), after the words and figures “section 73 or section 74”, the words, figures and letter “or section 74A” shall be inserted.
135	01-11-24	Amendment of section 70	Section 70: Power to summon persons to give evidence and produce documents All persons summoned shall be bound to attend, either in person or by an authorised representative, as such officer may direct, and the person so appearing shall state the truth during examination or make statements or produce such documents and other things as may be required.
136	01-11-24	Amendment of section 73	The provisions of section 73 shall be applicable for determination of tax pertaining to the period up to Financial Year 2023-24.
137	01-11-24	Amendment of section 74	The provisions of section 74 shall be applicable for determination of tax pertaining to the period up to Financial Year 2023-24.
138	01-11-24	Insertion of section 74A	Section 74A “Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason pertaining to Financial Year 2024-25”
139	01-11-24	Amendment of section 75	Section 75: General provisions relating to determination of tax Amendment: To give effect to Insertion of section 74A
140	01-11-24	Amendment of section 104	Section 104: Advance ruling to be void in certain circumstances Amendment: To give effect to Insertion of section 74A
141	01-11-24	Amendment of section 107	Section 107: Appeals to Appellate Authority Amendment: To give effect to Insertion of section 74A Maximum Predeposit for filing appeal reduced to 20 Cr.
143	01-11-24	Amendment of section 112	Section 112: Appeals to Appellate Tribunal Minimum Predeposit for filing appeal reduced to 10% of tax in dispute. Maximum Predeposit for filing appeal reduced to 20 Cr.
144	01-11-24	Amendment of section 122	Section 122: Penalty for certain offences In section 122 of the CGST Act, with effect from the 1st day of October, 2023, in sub-section (1B), for the words “Any electronic commerce operator who”, the words and figures “Any electronic commerce operator, who is liable to collect tax at source under section 52,” shall be substituted.
145	01-11-24	Amendment of section 127	Section 127: Power to impose penalty in certain cases Amendment: To give effect to Insertion of section 74A
146	01-11-24	Insertion of new section 128A	GST Amnesty Scheme Notified Waiver of interest or penalty or both relating to demands raised under section 73, for tax periods from 1st July, 2017 to 31st March, 2020
147	01-11-24	Amendment of section 140	Section 140: Transitional arrangements for input tax credit The input tax credit on account of any services received prior to the appointed day by an Input Service Distributor shall be eligible for distribution as credit under this Act, within such time and in such manner as may be prescribed, whether the invoices relating to such services are received prior to, on or after, the appointed day
149	01-11-24	Amendment of Schedule III	ACTIVITIES OR TRANSACTIONS WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF GOODS NOR A SUPPLY OF SERVICES In Schedule III to the CGST Act, after paragraph 8 and before Explanation 1, the following paragraphs shall be inserted, namely:— “9. Activity of apportionment of co-insurance premium by the lead insurer to the co-insurer for the insurance services jointly supplied by the lead insurer and the co-insurer to the insured in co-insurance agreements, subject to the condition that the lead insurer pays the central tax, the State tax, the Union territory tax and the integrated tax on the entire amount of premium paid by the insured. 10. Services by insurer to the reinsurer for which ceding commission or the reinsurance commission is deducted from reinsurance premium paid by the insurer to the reinsurer, subject to the condition that the central tax, the State tax, the Union territory tax and the integrated tax is paid by the reinsurer on the gross reinsurance premium payable by the insurer to the reinsurer, inclusive of the said ceding commission or the reinsurance commission.”.

Summary of Sections of Finance Act notified: Section of IGST Act

Section of Finance Act	Notified w.e.f.	Section of IGST Act	Subject
151	01-11-24	Amendment of section 5	In the IGST Act, 2017 (13 of 2017) (hereinafter referred to as the Integrated Goods and Services Tax Act), in section 5, in sub-section (1), after the words “alcoholic liquor for human consumption”, the words “and un-denatured extra neutral alcohol or rectified spirit used for manufacture of alcoholic liquor, for human consumption” shall be inserted.
152	01-11-24	Insertion of new section 6A	New Section 6A inserted. It Deals with “Power not to recover Goods and Services Tax not levied or short-levied as a result of general practice”
153	01-11-24	Amendment of section 16	No refund of unutilised input tax credit on account of zero rated supply of goods or of integrated tax paid on account of zero rated supply of goods shall be allowed where such zero rated supply of goods are subjected to export duty.
154	01-11-24	Amendment of section 20	Section 20: Application of provisions of CGST Act Maximum Predeposit for filing appeal before the Appellate Authority or the Appellate Tribunal for filing appeal reduced to 20 Cr.

Summary of Sections of Finance Act notified: Section of UGST Act

Section of Finance Act	Notified w.e.f.	Section of UGST Act	Subject
155	01-11-24	Amendment of section 7	In the UGST, 2017 (14 of 2017) (hereinafter referred as the Union Territory Goods and Services Tax Act), in section 7, in sub-section (1), after the words “alcoholic liquor for human consumption”, the words “and un-denatured extra neutral alcohol or rectified spirit which is used for manufacture of alcoholic liquor, for human consumption” shall be inserted.
156	01-11-24	Insertion of new section 8A	New Section 8A inserted. It Deals with “Power not to recover Goods and Services Tax not levied or short-levied as a result of general practice”

Summary of Sections of Finance Act notified: Section of GST (Compensation to States) Act

Section of Finance Act	Notified w.e.f.	Section of GST (Compensation to States) Act	Subject
157	01-11-24	Insertion of new section 8A	New Section 8A inserted. It Deals with “Power not to recover Goods and Services Tax not levied or short-levied as a result of general practice”

For Official Notification Download PDF Given Below:

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Name: Reetu

Designation: Content Manager

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Location: Delhi, India

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Reetu is a Content Writer with 3+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM(Honrs.) Graduate.

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