Regulatory Relief:
Government waives penalty under section 125 of the CGST Act, 2017.
Applies to non-compliance with notification No. 14/2020 – Central Tax.
Amnesty Period:
Relief granted for non-compliance between December 1, 2020, and March 31, 2021.
Subject to condition of compliance from April 1, 2021, onwards.
Director's Directive:
Pramod Kumar, Director at the Government of India, issues the directive.
Aims to ease the compliance burden on registered persons.
Council's Recommendation:
Waiver based on recommendations from the GST Council.
Reflects collaborative efforts to support taxpayers during challenging times.
Publication Details:
Notification initially published in the Gazette of India on March 21, 2020.
Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 197(E).
Compliance Reminder:
Registered persons urged to ensure compliance with notification requirements post-April 1, 2021.
Ensures adherence to regulatory standards and avoids penalties.
Impact on Taxpayers:
Offers relief to taxpayers grappling with compliance challenges.
Encourages timely adherence to regulatory changes to avoid future penalties.