Penalty Waiver:
The Government, under section 128 of the Central Goods and Services Tax Act, waives penalties for non-compliance with notification No.14/2020 – Central Tax.
Supersession of Previous Notification:
This waiver supersedes a previous notification (No. 89/2020 – Central Tax) and is effective from December 1, 2020, to September 30, 2021.
Penalty Provision:
The penalty waiver applies to penalties under section 125 of the said Act, providing relief for non-compliance during the specified period.
Notification Context:
The waived penalties are related to the provisions outlined in the notification dated March 21, 2020, regarding Central Tax.
Official Notification Source:
The waiver is officially communicated through a notification by Rajeev Ranjan, Under Secretary to the Government of India.
Limited Time Frame:
The penalty relief is applicable specifically for non-compliance instances occurring between December 1, 2020, and September 30, 2021.
Council Recommendations:
The decision is made based on recommendations from the Council, aligning with efforts to ease compliance burdens during the specified timeframe.
This government initiative aims to alleviate penalties for GST non-compliance within the mentioned period.