- Conditional waiver of interest and penalty announced for GST taxpayers
- Scheme effective from 1 November 2024
- Targets specific non-fraudulent GST demand notices for fiscal years 2017-18, 2018-19, and 2019-20
- Eligible taxpayers can benefit from total waiver of interest and penalties
- Original tax demand must still be paid
- Payments must be made through Form DRC 03 by 31 March 2025
- Required forms must be uploaded by 30 June 2025
- Initiative aims to alleviate financial burden on GST-registered taxpayers
- Relief for taxpayers who faced financial repercussions due to initial filing errors
- Experts view scheme as much-needed relief for taxpayers
- Aims to ease compliance burden and provide structured resolution for ongoing cases related to CGST Act.
Source: businessworld.in
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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