Quick Summary
On October 8, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 20/2024 Central Tax, introducing amendments to the Central Goods and Services Tax (CGST) Rules, 2017, under Rule 164. The amendments, effective from November 1, 2024, outline the procedure for closure of proceedings under Section 128A in relation to demands raised under Section 73. This new rule is a significant step in streamlining the process for waiving interest and penalties for taxpayers.
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FAQ :
The new rules, outlined in Notification No. 20/2024 – Central Tax, are effective from November 1, 2024.
Taxpayers can file an application electronically. FORM GST SPL-01 is for notices under Section 73, and FORM GST SPL-02 is for orders, both requiring details of payments made via FORM GST DRC-03.
Eligibility requires the full payment of the demanded tax and the withdrawal of any appeals or petitions filed before the waiver application is processed.
Applications must generally be submitted within three months from the notified date, with a six-month window for cases involving redetermined tax amounts.
If no response is provided by the proper officer within the stipulated time, the application will be considered approved.
The new procedure aims to ease the financial burden on taxpayers by providing a clear process for waiving interest and penalties on GST demands, making dispute resolution more efficient.
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