GST
Interest waiver scheme under Sec 128A
Updated . Every paid answer is checked by a CA. Free AI answers are labelled until a CA verifies them.
Facts
Sec 128A waived interest and penalty on Sec 73 demands for FY 2017-18 to 2019-20 where the full tax was paid by 31 March 2025 and an application was filed. The payment window has closed.
Provisions and law
- Sec 128A, CGST Act 2017Waiver of interest and penalty on Sec 73 demands for FY 2017-18 to 2019-20 where the full tax was paid by the notified date (31 March 2025).
- Sec 73(1), CGST Act 2017Show cause notice for tax not paid, short paid or ITC wrongly availed for reasons other than fraud, for periods up to FY 2023-24.
Analysis
If you applied in time, track the order on the portal. If you missed it, interest and penalty apply as per the demand. Fraud cases under Sec 74 were not covered. Check the portal for any later extension or new scheme.
Conclusion
- Check whether you applied under the scheme.
- Track the status of your application.
- If missed, plan to pay or contest the demand.
- Watch for any new scheme announcements.
A Savvy can do this for you
Interest on late tax payment, Sec 50
₹999
Get this doneAsk a Savvy on WhatsAppGeneral guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.