The All India Rubber Industries Association Eastern Region organized a Masterclass on the GST Scheme on February 28, 2025, at its Eastern Region office. The session aimed to clarify the Dispute Resolution Scheme, distinguishing it from the Amnesty Scheme, and prevent potential GST notices.

Attended by 30+ participants, the session was well received. The session was led by CA Abhishek Agarwal, an expert in GST, forensic auditing, and indirect taxes and a former invitee to ICAI's National GST & Indirect Tax Committee. Mr. Somdev Bhowmick, ERC member, delivered the welcome address, followed by CA Abhishek Agarwal's presentation. He explained the waiver scheme introduced under Section 128A of the CGST Act, 2017, through the Finance Act, 2024. This scheme applies to demand notices under Section 73 for FY 2017-18, 2018-19, and 2019-20, allowing taxpayers to avail waivers on interest and penalties if full tax payment is made by March 31, 2025. He discussed eligibility criteria, exclusions, and relevant GST SPL forms for application.

The key takeaways from the session was information on Full Tax Payment is Mandatory, Input Tax Credit (ITC) Rules, Amnesty Scheme Procedures & Deadlines, Documentation & Compliance Points and Amnesty vs. Recovery Scheme.

A Q&A session was followed where participants' queries were addressed. The event concluded with a memento presentation to CA Abhishek Agarwal by AIRIA (ER) Chairman, Mr. Vishal Bagaria, who thanked attendees and encouraged participation in future knowledge sessions.