Section 128 of CGST Act 2017: Power to Waive Penalty or Fee or Both
Provisions under Section 128 of the Central Goods and Services Tax (CGST) Act, 2017 relating to “Power to Waive Penalty or Fee or Both”, are as under:
Section 128 of CGST Act 2017: Power to Waive Penalty or Fee or Both (CHAPTER XIX – OFFENCES AND PENALTIES)
The Government may, by notification, waive in part or full, any penalty referred to in section 122 or section 123 or section 125 or any late fee referred to in section 47 for such class of taxpayers and under such mitigating circumstances as may be specified therein on the recommendations of the Council.
The Central Goods and Services Tax (CGST) Act, 2017 was notified by Govt. on 12 April, 2017 and CBIC has notified the commencement date for various Sections/ Provisions thereof from time to time. Subsequently, Govt. has notified the Central Goods and Services Tax (CGST) (Amendment) Act, 2018 on 30 Aug. 2018. However, commencement date of amended provisions of various Sections is to be separately notified by CBIC, except where specifically mentioned in the CGST Amendment Act, 2018 itself.