GST Amnesty Scheme, 2024

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Description
"If there is hope in the future, there is power in the present, regardless of your past" is a famous quote of Vaclav Havel, a Czech Philosopher and playwright. It appears that in its 53rd GST Council meeting held on 22-6-2024 the Council has taken an inspiration from the aforementioned quote in the sense that to boost the hope of the taxpayers in the future, it has utilised its power in the present to condone the past mistakes/omissions committed by honest taxpayers. Accordingly, the Council has recommended to the Government to bring into force the GST Amnesty Scheme, 2024.
The Amnesty Scheme provides a one-time opportunity for taxpayers to rectify their past mistakes and omissions and move forward without any pending litigation. To provide statutory backing to the Amnesty Scheme, Section 128A has been inserted in the CGST Act, 2017 with effect from 1-11-2024. Further, to implement Section 128A, Rule 164 has been inserted with effect from 1-11-2024. Rule 164 deals with procedure and conditions for closure of proceedings under Section 128A in respect of demands issued under Section 73. In addition, Circular No. 238/32/2024- GST, dated 15-10-2024 has been issued.
In order to enable the professional fraternity/taxpayers to fully understand all the implications and reap the benefits of GST Amnesty Scheme, 2024, this small, yet detailed, book is being published. The Scheme prima facie is simple but in-depth analysis of the same may raise certain issues and questions requiring absolute clarity. Therefore, I have expressed my opinion without reservation to guide the readers in the right perspective. Overall, there can not be two opinions about the value and effectiveness of the Amnesty Scheme as it provides waiver of interest or penalty or both to the eligible taxpayers. Thus, it becomes necessary on the part of the taxpayers to ensure error-free filing of the waiver application to the satisfaction of the proper officer.
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Contents
Division 1
Referencer
Referencer 1 Meanings of various terms
Referencer 2 GST Amnesty Scheme 2024 - Section 128A
Referencer 3  Procedure and conditions for closure of proceedings under section 128A in r/o demands issued under Section 73 - Rule 164
Referencer 4 List of Amnesty Scheme and Other Relevant Forms
Referencer 5 Taxpayers who shall not be eligible to avail GST Amnesty Scheme, 2024
Referencer 6 FAQS on GST Amnesty Scheme, 2024
Referencer 7 Important Last Dates for Various Amnesty Forms
Division 2
Practice & Procedure
Chapter 1 Objectives and Benefits of GST Amnesty Scheme, 2024
1.0 Introduction
1.2 Challenges which prompted the Government to bring Amnesty Scheme
1.3 Objectives of the Scheme
1.4 List of probable benefits of Amnesty Scheme for different stakeholders
1.5 List of statutory provisions and rules providing statutory backing to the Amnesty Scheme
1.6 Concluding remarks
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Author Details
Ashok Batra is a Chartered Accountant and a Law Graduate. He is an alumnus of Sri Ram College of Commerce, Delhi University. Presently, he is a senior partner of the "M/s A.K..Batra and Associates", Chartered Accountants. He established the said firm in 1982, after qualifying his Chartered Accountancy Exams in 1981. In the first twenty two years of his practice, he primarily worked in the traditional areas of Direct Taxation, Auditing and Sales Tax. Subsequently, in the year 2004 he felt the ever-growing significance of Service Tax in the Indian Economy. He, therefore, gained
super-Specialisation in Service Tax by consistent hard-work.