Section 128A Eligibility

[Vigneshwari M]

Hi,

Can we consider applying for Section 128A Amnesty scheme for cases where Interest is demanded for ITC reversal done under Rule 37?

Can this interest be considered under the scope of Interest on 'self assessed tax'?

Thanks,

AI Summary

Eligibility of Section 128A Amnesty for Interest on ITC Reversal under Rule 37 Confirmed by Recent Circular A participant inquired whether the Section 128A Amnesty scheme could be applied to cases where interest is demanded for Input Tax Credit (ITC) reversal under Rule 37, questioning if this interest falls under 'self-assessed tax.' A respondent clarified that a recent circular confirms eligibility for the scheme even if the notice or order pertains only to interest and penalty.