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| Name | Recommendations in 53rd GST Council meeting | Section 16(4) time limit relaxed | |
| Video Uploader | Video From MyTaxPort |
| Upload Date | This Video Uploaded At 23-06-2024 07:52:24 |
| Video Discription | Decisions taken related to trade facilitation, relief to tax payers: FM 1. Waving interest and penalties for demand notices issued under sector 73 of CGST Act 2. To reduce government litigation, a monetary limit has been recommended of Rs 20 lakh for GST appelete tribunal, Rs 1 crore for HCs, Rs 2 crore for SCs for filing of appeals by the department. 3. To waive interest & pentalties notices issued under section 73 of CGST Act for 3 financial years. 4. For small taxpayers time limit extended to 30th June for GSTR-4, FY24-25 onwards 5. Rolling out bio metric based aadhar authentication. 6. The time limit to avail input tax credit in respect of any invoice or debit note under section 16(4) of the CGST Act filed up to the 30-11-2021 for the financial years 17-18, 18-19, 19-20 and 20-21 may be deemed to be regular. 7. GSTR 1A will be introduced to facilitate the amendment of GSTR 1 before filing of GSTR 3B of the same month. |
| Category | News & Politics |
| Tags | #gst | #Section16(4) | #53rdGSTCouncilMeeting | #RCMCredit | #InterestWaiver | #PenaltyWaiver | #GSTAT | #litigation |
