The 53rd meeting of India’s GST Council recommended waiving interest and penalties for demand notices issued for the fiscal years 2017-18 to 2019-20, if the full tax demanded is paid by 31 March 2025. They also recommended extending the time limit to avail input tax credit and reducing the monetary limit for filing appeals to reduce litigation. Additionally, they recommended amending provisions of the CGST Act to ease the interest burden of taxpayers. These recommendations will be given effect through relevant circulars, notifications, and law amendments.
Source Orbitax
