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NEW DELHI: The GST Council on Saturday got here out with an amnesty scheme, giving taxpayers time until January 31, 2024, to file appeals in opposition to demand orders handed by tax officers until March 2023. As per the GST regulation, an assessee can file an attraction in opposition to an evaluation order looking for taxes inside three months of the tax officer passing such an order. This may be prolonged by yet another month.
The 52nd GST Council in its assembly on Saturday gave additional time to GST-registered companies to file appeals with an enhanced pre-deposit of 12.5 per cent of the tax demand, in opposition to 10 per cent presently.
Briefing reporters after the Council assembly, Income Secretary Sanjay Malhotra mentioned the council has really helpful {that a} interval until January 31, 2024, could also be given for submitting of appeals by taxpayers for all orders handed until March 31, 2023, with an enhanced pre-deposit.
Of the pre-deposit of 12.5 per cent of the tax underneath dispute, no less than 20 per cent (i.e. 2.5 per cent of the tax underneath dispute) ought to be debited from the Digital Money Ledger.
“This may facilitate numerous taxpayers, who couldn’t file an attraction prior to now throughout the specified time interval,” an official assertion mentioned.
In one other commerce facilitation measure, the GST Council has amended GST guidelines to offer that provisionally hooked up property will likely be launched after completion of 1 yr.
Beneath the GST regulation, tax officers can provisionally connect properties, together with financial institution accounts, of GST-registered entities over non-payment of taxes.
The council has now clarified that such attachment will likely be legitimate for one yr.
“This may facilitate the discharge of provisionally hooked up properties after the expiry of the interval of 1 yr, with out want for a separate particular written order from the Commissioner,” the assertion mentioned.
“There have been many cases whereby orders underneath the GST had been uploaded on the portal. Nevertheless, the commerce was not conscious of the identical.
“Therefore, the time restrict of three months had lapsed. This example was creating plenty of points for the assesses. This transfer will certainly assist the commerce and guarantee a discount in writ petitions for a similar,” mentioned Parag Mehta, Companion, Oblique Tax, NA Shah Associates.
The 52nd GST Council in its assembly on Saturday gave additional time to GST-registered companies to file appeals with an enhanced pre-deposit of 12.5 per cent of the tax demand, in opposition to 10 per cent presently.
Briefing reporters after the Council assembly, Income Secretary Sanjay Malhotra mentioned the council has really helpful {that a} interval until January 31, 2024, could also be given for submitting of appeals by taxpayers for all orders handed until March 31, 2023, with an enhanced pre-deposit.
Of the pre-deposit of 12.5 per cent of the tax underneath dispute, no less than 20 per cent (i.e. 2.5 per cent of the tax underneath dispute) ought to be debited from the Digital Money Ledger.
“This may facilitate numerous taxpayers, who couldn’t file an attraction prior to now throughout the specified time interval,” an official assertion mentioned.
In one other commerce facilitation measure, the GST Council has amended GST guidelines to offer that provisionally hooked up property will likely be launched after completion of 1 yr.
Beneath the GST regulation, tax officers can provisionally connect properties, together with financial institution accounts, of GST-registered entities over non-payment of taxes.
The council has now clarified that such attachment will likely be legitimate for one yr.
“This may facilitate the discharge of provisionally hooked up properties after the expiry of the interval of 1 yr, with out want for a separate particular written order from the Commissioner,” the assertion mentioned.
“There have been many cases whereby orders underneath the GST had been uploaded on the portal. Nevertheless, the commerce was not conscious of the identical.
“Therefore, the time restrict of three months had lapsed. This example was creating plenty of points for the assesses. This transfer will certainly assist the commerce and guarantee a discount in writ petitions for a similar,” mentioned Parag Mehta, Companion, Oblique Tax, NA Shah Associates.
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