GST Amnesty Scheme for Registered Persons Under Section 62 Who Failed to Furnish Valid Returns

The Central Board of Indirect Taxes and Customs (CBIC) has introduced an amnesty scheme for registered persons who have failed to furnish a valid Goods and Services Tax (GST) return within the specified timeframe. This scheme is outlined in Section 62 of the CGST Act.

The amnesty scheme applies to registered persons whose cases have undergone assessment under Section 62 on or before February 28, 2023, and who have failed to submit a valid GST return within 30 days from the date of service of the assessment order. The scheme aims to provide relief to these individuals by allowing them to rectify their non-compliance.

The Ministry of Finance, Department of Revenue, has issued Notification No. 06/2023 - Central Tax on March 31, 2023, to notify the implementation of this amnesty scheme. This notification is based on the recommendations of the Council and is in line with the powers conferred by Section 148 of the CGST Act.

According to the notification, registered persons falling under the specified criteria can have their assessment orders deemed to have been withdrawn if they follow the special procedures outlined below:

1. The registered persons must furnish the required GST return on or before June 30, 2023.
2. The return should be accompanied by the payment of interest due under Section 50(1) of the CGST Act and the late fee payable under Section 47 of the same Act.
3. The withdrawal of the assessment order will be applicable regardless of whether an appeal has been filed against the order under Section 107 of the CGST Act or if any appeal filed has been decided.

This amnesty scheme provides an opportunity for registered persons to rectify their non-compliance and fulfill their GST obligations. By furnishing a valid return within the specified timeframe and making the necessary payments, they can avoid the adverse consequences of non-compliance.

It is important for eligible registered persons to take advantage of this amnesty scheme and ensure timely compliance with the GST regulations. Failure to do so may result in further penalties and legal implications.

The amnesty scheme serves as a reminder of the importance of fulfilling GST obligations and maintaining accurate records. It also highlights the government's efforts to provide relief and support to taxpayers while ensuring compliance with the GST framework.

Registered persons who have failed to furnish a valid GST return within the required timeframe should carefully review the notification and follow the specified procedures to rectify their non-compliance. Seeking professional advice or assistance, if needed, can also be beneficial in navigating the amnesty scheme and ensuring compliance with the GST regulations.

Download Notification: 06/2023-Central Tax