The Government of Karnataka on November 22, 2024, issued clarifications on various doubts related to Section 128A of the KGST Act, 2017.
The following has been stated: -
•Section 128A of the Karnataka Goods and Services Tax (KGST) Act, 2017, provides for the waiver of interest or penalty on demands under Section 73 for the financial years 2017-18, 2018-19, and 2019-20, effective from November 01, 2024, subject to certain conditions.
•The procedure for taxpayers to avail of this benefit, including filing applications and payment timelines, is clarified. Rule 164, inserted with effect from November 01, 2024, outlines the process for closing proceedings, and full payment must be made by March 31, 2025, to avail of the waiver.
•Further guidelines have been issued to ensure uniform implementation across field formations.
•The notification is intended to provide clarification and resolve difficulties in compliance.
The detailed notification is given in the document below.
[Notification No. KSA/GST.CR-05/2019-20 (Vol-IV)]
