Section 128 Of Gst Power To Waive Penalty Or Fee Or Both

Section 128 of GST – Power to waive penalty or fee or both

Statutory provision The Government may, by notification, waive in part or full, any penalty referred to in section 122 or section 123 or section 125 or any late fee referred to in section 47 for such class of taxpayers and under such mitigating circumstances as may be specified therein on the recommendations of the Council. Related provisions of the Statute

Analysis and Updates

Introduction This section empowers the Government to waive penalty for certain class of taxpayers or under certain circumstances. Analysis (i) This section provides for waiver of penalty leviable under section 122 or section 123 or section 125 or late fee payable under section 47 to those classes of taxpayers or under such mitigating factors as notified by the Government.(ii) A series of notifications issued for reduction of late fee with regard to filing of FORM GSTR 3B, GSTR-1, GSTR-5, GSTR-5A, and GSTR-6. Recommended Articles –

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