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Recommendations of the 53rd Meeting of India's GST Council Include Interest and Penalty Waiver on Demand Notices for 2017-18 to 2019-20

|Approved Changes|India
India

India's Press Information Bureau has published a release from the Ministry of Finance on the recommendations of the 53rd meeting of India's GST Council, which was held on 22 June 2024. One of the key recommendations is the insertion of Section 128A in the Central Goods and Services Tax Act to provide a conditional waiver of interest and penalties relating to demand notices issued for the fiscal years 2017-18 to 2019-20, provided that the taxpayer pay the full amount due by 31 March 2025. The…

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