CrackitToday App

GST Amnesty Scheme

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.