The Goods and Services Tax (GST) late fees and penalties will soon provide relief to troubled businessmen. For this, the Ministry of Finance is considering to bring the One Time Amnesty Scheme.
And the responsibility of resolving this issue can soon be entrusted to the Law Committee of the GST Council. The final decision on the committee’s recommendation will be made in the meeting of the GST Council.
According to sources, the amnesty scheme will come again for relief from GST late fees. Actually, the government is in favor of amnesty for relief from late fees and penalties. The GST Council’s Law Committee will soon be assigned the entire case.
According to sources, the decision will be taken in the council meeting only on the basis of the recommendations of the Law Committee. While drafting the scheme, care will be taken to ensure that there is no revenue loss. The decision regarding the amnesty scheme is possible in the upcoming meeting of the council.