The last date to submit the application for the GST Amnesty Scheme (Section 128A) to waive interest and penalties is June 30, 2025. To be eligible, taxpayers must pay the full outstanding tax dues for the financial years 2017-18 to 2019-20 on or before March 31, 2025.
The GST Amnesty Scheme 2024 offers a valuable opportunity for taxpayers to settle past GST disputes from FY 2017-18 to 2019-20 with a waiver of interest and penalties under Section 73. To avail the benefit, full tax payment must be made by March 31, 2025, and the application must be filed by June 30, 2025.
The GST Amnesty Scheme under Section 128A grants total waiver of pending interest and penalty amount if the tax dispute amount is paid by an eligible taxpayer on or before March 31, 2025.
Steps to Apply for the GST Waiver
Here's a simplified breakdown of the process under Section 128A: File an Application on the GST Portal: Apply electronically using FORM GST SPL-01 for non-fraudulent notices or FORM GST SPL-02 for certain orders. Include details of the tax payments made using FORM GST DRC-03.
If there is an amnesty announced by the government for the default, then the GST penalty could be conditionally waived off.
1. Login into GST portal: Navigate to > Services > User Services > My Applications. 2. On Navigating to 'My Applications' page, the taxpayer has to select 'Apply for Waiver Scheme under Section 128A' option under 'Application type' dropdown.
The scheme provides an opportunity to employers and insured persons to settle disputes outside courts in a structured and transparent manner. It will remain in operation from 1st October 2025 to 30th September 2026. For coverage disputes, the scheme applies to both closed and running units.
Step 1: Log into the GST portal. Step 2: Go to the My Application section under the Services tab. (Services > User Services > My Applications). Step 3: Select the ''Apply for Waiver Scheme under Section 128A' option from the Application Type dropdown menu once the My Application page opens.
Maximum marginal rate is the highest rate of tax at any income level. This means for those with incomes between Rs 2 crore and Rs 5 crore, 39% will be the highest applicable tax rate, and for those with incomes above Rs 5 crore, it will be 42.74% — the highest tax rate since 1992.
38/2019-Central tax dated 31.08. 2019 has waived of the requirement of furnishing the details of challans in FORM ITC-04 for the period from July 2017 to March 2019.
Barring of GST Return on expiry of three years
The GST network issued another advisory on 7th June 2025, implementing the rule of time-barring of GST return filing beyond three years from the due date. By this update, taxpayers will not be able to file GST returns after three years from the due date of such return.
Legal provisions restrict claiming ITC after the due date of GSTR-3B or annual return for that financial year. Example: For FY 2019-20, ITC on a September 2020 invoice could be claimed by 20th October 2020 (GSTR-3B due date) or 31st December 2020 (annual return). Amnesty scheme does not extend this ITC claim period.
The following category of tax persons are exempted from payment of 1% of GST in Cash 1. Registered taxpayers who have paid income tax above Rs 1.00 in Income Tax during the last two years continuously 2. Taxpayers who have zero-rated supplies without payment of duty and claimed refund of more than Rs 1.00 lac 3.
Update January 2, 2025: The amnesty program ended on December 31, 2024, and as a result, individuals, including residents and visitors found to be in the United Arab Emirates in irregular status will be fined up to AED 50 per day and may face possible deportation, and employers hiring such individuals will also be ...
During the GST/HST break
From December 14, 2024, to February 15, 2025, you should not have charged the GST/HST on the qualifying goods and services listed above. Keep your records and remit and report your regular GST/HST as usual.
You need to verify your Aadhaar details within 15 days of the generation of the TRN.
The key categories of goods and services included under the special 40% GST slab are, Tobacco and related intoxicants as sin goods (e.g., cigarettes, bidis, pan masala, caffeinated drinks) Drinks with high sugar content and caffeinated. Super-luxury and luxury 4-wheelers, 2-wheelers and personal use yacht, aircraft, ...
For salaried individuals, the ₹75,000 standard deduction further boosts the effective tax-free limit – if your salary is ₹12.75 lakh, after the standard deduction your taxable income is ₹12 lakh, meaning you also pay zero tax.
Amitabh Bachchan has become India's highest tax- paying celebrity for FY 2024-25, surpassing Shah Rukh Khan and Thalapathy Vijay. As per reports, Big B paid a whopping ₹120 crore in taxes—marking a 69% increase from last year. 📈
What is the last date to apply? June 30, 2025. All compliance actions must be completed before this date.
Avail the new GST Amnesty Scheme 2024, introduced via Section 128A for conditional waiver of interest and penalties for tax demands from FY 2017-18 to 2019-20 under Section 73. To qualify, taxpayers must fully pay outstanding tax dues by March 31, 2025.
If your GST turnover is below the $75,000 threshold, you may choose to register. But if you do, regardless of your turnover, you must: include GST in the price of most goods and services you sell. claim GST credits for most business purchases you make.
To avail of the GST Amnesty Scheme under Section 128A, taxpayers must: Pay the full principal tax demand by March 31, 2025. Apply for the scheme by June 30, 2025.
How can I apply for Tax Amnesty? By logging into your iTax page and going to Amnesty application tab under Debt and Enforcement and making the application. Clicking on the link shared through your Email/SMS which will re-direct you to your iTax page to make the application.
It ends illegal immigration, restores law and order, provides legal status (no amnesty) for certain long-term undocumented immigrants, strengthens the American workforce, modernizes our legal immigration system, and helps pay down the national debt.