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Finance ministry to issue circular on GST Amnesty Scheme in Oct or Nov
The New Indian Express
|August 24, 2024
THE Ministry of Finance will soon issue a circular regarding the much-anticipated goods and services tax (GST) Amnesty Scheme, which was recently proposed in the Budget 2024, as per sources.
The scheme aims to provide relief to taxpayers by waiving interest and penalties under certain conditions for tax matters arising between July 1, 2017, and March 31, 2020.
It covers show cause notices (SCNs), adjudicating orders, and appeal orders issued for the financial years 2017-18, 2018-19, and 2019-20. According to sources, under the scheme, taxpayers can benefit from a waiver of interest and penalties if they pay the full amount of tax due by March 31, 2025.
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