Highlights of 43rd GST Council Meeting

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 Highlights of 43rd GST Council Meeting

 

 

  • Proviso to section 50 on interest recovery shall be given retrospective effect i.e. from 01.07.2017.

  • Section 112 of Finance Act 2021 shall come into effect from 01.10.2021. It provides for the amendment to section 168 of CGST Act, whereby powers have been given to the jurisdictional commissioner for issuance of instructions and directions.

  •  Rationalisation of late fees has been accepted.

  • Amnesty scheme for waiver of late fees for the assessees who have not filed the prior period returns.

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