Chief Minister Dr. Pramod Sawant has disclosed that the GST Council has decided to give a waiver of interest and penalty to the traders, demanded in Orders u/s 73 of GST Act for initial three years 2017-18, 2018-19 and 2019-20.
The Chief Minister participated in the 53rd GST Council Meeting chaired by Union Finance and Corporate Affairs Minister Nirmala Sitharaman in New Delhi yesterday.
Dr Sawant revealed the GST Council decision with a post on X, stating: “Raised the concerns of small traders & businessmen in the state who could not file returns in time due to difficulties during COVID-19 pandemic and the Council took decision of Amnesty by giving waiver of interest and penalty demanded in Orders u/s 73 of GST Act for initial three years 2017-18, 2018-19 and 2019-20 will be a great relief to Traders.
“The GST Council decided to give relaxation from applicability of time limit of Section 16(4) for all returns of years 2017-18 to 2020-21 if their returns are filed on or before 30/11/2021. This decision will benefit several taxpayers who were denied ITC for late return filing. In Goa at least 120 pending Appeals on this point will be disposed in favour of taxpayer.
“The GST Council decided to suitably amend the GST Law to clarify that Extra Neutral Alcohol used for Manufacturing Alcohol for human consumption is not taxed under GST, helping manufacturers to bring down costs and boost the liquor industry.”
