GSTN Issues Advisory on Waiver Scheme Under Section 128A: Key Details for Taxpayers

GSTN has issued an advisory on the waiver scheme under Section 128A of the CGST Act, 2017. This scheme is available for taxpayers who have failed to file GST returns for earlier periods and are facing recovery action from the government. The waiver is applicable to taxpayers who clear their dues under a specified timeline. It offers relief from penalties, late fees, and interest, provided the taxpayer complies with the conditions outlined in the advisory. Taxpayers must fulfill the prescribed procedures, which include the filing of pending returns and payment of taxes to be eligible for the waiver. The advisory aims to assist taxpayers who have difficulties complying with GST laws due to previous non-compliance, offering them a chance to resolve their arrears.