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of <h1>New Section 128A in GST Act Waives Interest, Penalties for Tax Paid Timely (2017-2020) Under Section 73</h1> Clause 142 of the Finance (No. 2) Bill, 2024 proposes to insert section 128A into the Central Goods and Services Tax Act. This section allows for a waiver of interest and penalties for tax demands under section 73 for the periods from July 1, 2017, to March 31, 2020, if the full tax amount is paid by a government-notified date. The waiver does not apply to erroneous refunds or cases with pending appeals unless withdrawn. No refunds will be given for already paid interest and penalties. Proceedings will be considered concluded under specified conditions.
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