Hi! I have received a notice from GST Office for paying interest under sub-section (1) of the Section 50 the GST.
I had not filed my GST returns for the period of July 2017 and March 2018. They were paid with late fees on 1st July 2019 and 12th June 2019 respectively.
I have a show cause notice that asks me to pay interest under section 50.
Am I eligible to waive my interest under the current amnesty scheme?
I read that amnesty is applicable for interest liable to be paid under section 73. However, I have section 50 applicable. Please help.
Debate on GST Act: Can Amnesty Offset Interest Under Section 50 for Late 2017-18 Returns? Varied Legal Opinions. An individual queried about availing amnesty to offset interest payable under Section 50 of the GST Act for late filing of returns in 2017-18. Responses varied, with some suggesting that the amnesty scheme could apply if a show cause notice under Sections 73 or 74 was involved, while others argued that interest under Section 50 is not eligible for waiver. It was noted that the amnesty scheme generally applies to reduce litigation, and interest is considered automatic and integral to tax if payment is delayed. The discussion highlighted differing interpretations and the importance of specific circulars and legal provisions. (AI Summary)
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