GST bodies get power to waive off certain penalties
- Posted on September 28, 2024
- By Business News Today
- 4 Views
GST bodies get power to waive off certain penalties
The government has introduced changes to GST laws, allowing authorities to waive certain interest and penalties on past tax demands. Effective November 1, these changes aim to reduce tax litigation. Additionally, businesses can now rectify and claim missed input tax credit during a specified period, promoting a more business-friendly tax regime.