GST Amnesty Scheme:
The finance ministry has come out with an amnesty scheme for filing appeals against Goods and Services Tax (GST) demand orders.
- GST Amnesty Scheme will be open till January 31, 2024.
- It will be available for entities that were unable to submit their appeals against orders issued by the tax officer on or before March 31,
- The scheme aims to help those who missed the deadline for filing appeals due to various reasons, including administrative errors or unforeseen circumstances.
- The entities willing to avail of the scheme will have to pre-deposit 12.5 percent of the tax demand, against 10 percent
- This initiative can also promote enhanced compliance among taxpayers.
- A fair and lenient approach to appeal filing encourages better cooperation with tax authorities and a willingness to resolve disputes or clarify tax matters.
- This benefits both taxpayers and the tax administration by streamlining the appeal process and potentially reducing the need.
