Date for payment u/s 128A notified-CGST notification dated 08.10.2024!

Date for payment u/s 128A notified- CGST notification dated 08.10.2024!

On October 8, 2024, the Ministry of Finance, Department of Revenue, issued Notification No. 21/2024 - Central Tax under the CGST Act, 2017. This notification outlines the timelines for registered taxpayers to pay their outstanding tax liabilities as per notices, statements, or orders under Section 128A. It provides an opportunity for taxpayers to waive penalties, interest, or both, subject to compliance with the prescribed deadlines. Effective November 1, 2024, the notification introduces specific deadlines for different taxpayer categories, ensuring smoother resolution of outstanding tax disputes and compliance with legal directives.

Notification No. 21/2024 - Central Tax dated 08^th October, 2024

MINISTRY OF FINANCE

DEPARTMENT OF REVENUE

Date: 08.10.2024

Notification No. 21/2024 - Central Tax

S.O. 4372(E).— In exercise of the powers conferred by sub-section (1) of section 128A of the Central Goods and Services Tax Act, 2017 (12 of 2017) (the said Act), the Central Government, on the recommendations of the Council, hereby notifies the respective date specified in Column (3) of the Table below, as the date upto which payment for the tax payable as per the notice, or statement, or the order referred to in clause (a) or clause (b) or clause (c) of the said section, as the case may be, can be made by the class of registered person specified in the corresponding entry in column (2) of the said Table, namely:–

‍

Key Highlights of the Notification

• Applicable Date: The notification will take effect from November 1, 2024.
• Timeline for Payment:

1. For registered persons who have received notices, statements, or orders under section 128A(a), (b), or (c), the payment due date is up to March 31, 2025. These clauses refer to the cases where the order is not passed u/s 73(9), 107(11), 108(1), or 113(1).
2. In cases where the order is passed or required to be passed by the proper officer in pursuance of the direction of the Appellate Authority, Appellate Tribunal, or a court, the due date for payment is the Date ending on completion of six months from the date of issuance of the order by the proper officer redetermining tax under section 73 of the said Act.

• Failure to pay within the specified timelines may result in the levy of interest, penalties, or both.

Conclusion

Notification No. 21/2024 - Central Tax provides a structured framework for registered taxpayers to settle their outstanding liabilities with the benefit of waiver on penalties and interest. By offering clear timelines, it aims to promote timely compliance and reduce the burden of prolonged disputes. Taxpayers are encouraged to meet the prescribed deadlines—March 31, 2025, or within six months from the redetermination order—to avoid additional penalties and ensure a smoother reconciliation of tax dues. This notification reflects the government’s efforts to streamline tax administration and foster greater compliance within the GST framework.

‍