GST Notification 21/2024-Central Tax dt. 08-October-2024
GST Notification – 21/2024:
The Notification No. 21/2024–Central Tax, issued on October 8, 2024, underlines a new directive from the Central Government regarding the deadline for tax payments under specific circumstances in accordance with the Central Goods and Services Tax (CGST) Act, 2017. Invoking powers under section 128A of the CGST Act, the government, upon the GST Council’s recommendation, has designated deadlines for registered taxpayers to settle their due taxes. These deadlines allow registered persons to make their payments under certain conditions and waive off interest, penalties, or both if they meet the respective deadlines.
According to the notification, two categories of registered persons are specified, each with its own payment deadline. For the first category, which includes those who have received a notice, statement, or order as per clauses
(a), (b), or (c) of section 128A, the final payment date is March 31, 2025. The second category includes taxpayers who have been served notices under section 74, specifically where an order has been issued or is required under section 75 following instructions from higher authorities like the Appellate Authority, Appellate Tribunal, or a court. For this group, the payment deadline is calculated as six months from the date of the redetermination order under section 73.
This notification will be effective starting November 1, 2024. Its main intent is to provide registered taxpayers an extended time frame to fulfill tax obligations under specific conditions while avoiding the imposition of interest or penalties. This adjustment may help ease compliance pressures for businesses, allowing them to meet regulatory demands with greater flexibility.
