Less than 2% assessees under CGST gets notice, working to make taxpayers life easier: FM Sitharaman
Addressing the media post the GST Council meeting, the Minister said as of December 31, 2023, only 1.96 per cent of all active tax assessees have been sent notices from the Central GST (CGST). Around 1.14 lakh assessees have been sent notices by t...
Addressing the media post the GST Council meeting, the Minister said as of December 31, 2023, only 1.96 per cent of all active tax assessees have been sent notices from the Central GST (CGST). Around 1.14 lakh assessees have been sent notices by the CGST out of total 58.62 lakh assessees.
The Council in its 53rd meeting on Saturday took a host of taxpayer-friendly steps including waiving interest and penalties for demand notices for fiscal years 2017-18, 2018-19 and 2019-20, if the full tax demand is paid by March 31, 2025.
The GST Council, chaired by Sitharaman and comprising her state counterparts, has also recommended reduction of the quantum of pre-deposit required to be paid for filing of appeals under GST.
To ease the interest burden of taxpayers, GST Council has recommended to not levy interest in case of delayed filing of return, on the amount which is available in Electronic Cash Ledger (ECL) on the due date of filing of the said return.
The Council has also recommended exemption from compensation cess on the imports in SEZ by SEZ unit/developer for authorised operations from July 1, 2017.
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