Quick Summary
In a significant move aimed at alleviating tax burdens, the Central Goods and Services Tax (CGST) Act has introduced a new section, 128A, which offers considerable relief for taxpayers regarding tax liabilities incurred between July 1, 2017, and March 31, 2020. This amendment allows individuals facing tax dues to pay their liabilities without incurring additional interest or penalties, provided they comply with specific conditions. Key Provisions of Section 128A Tax Payment Without Penalty
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FAQ :
Section 128A is a new amendment to the CGST Act that allows taxpayers to pay specific tax liabilities incurred between July 1, 2017, and March 31, 2020, without paying any interest or penalties.
The relief covers amounts from notices issued under Section 73 (non-payment or short payment) and orders passed under Sections 107 and 108 (revision of assessments and appeals).
Taxpayers must pay the full amount due as stated in the notice or order by a government-specified date. If an appeal is ongoing, it must be withdrawn.
No, this provision does not apply to cases involving erroneous refunds.
No, any interest or penalty that has already been paid will not be refunded.
Once the amount is settled, all related proceedings will be considered concluded, although appeals regarding certain orders cannot be filed after settlement.
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