GST Offences: Govt to Introduce One-Time Settlement to Avoid Litigations

This is in regard to recent news in one of the Official sources dated 19.10.2022 for an opportunity that could be given to businesses to settle minor GST offences in works.

This is to highlight that the Government is considering a GST dispute settlement scheme offering a time-bound scheme covering only minor GST offences while a one-time opportunity to settle past disputes under Excise Duty, Service Tax and Customs Duty.

A Government Official told the source, “Discussions are on to allow businesses to settle cases, and once we are ready with the details, it may be taken to the Council,”.

Some of the major highlights of the news are as below:

• The scheme will not cover wilful tax evasion. backsliders and offenders against whom enforcement agencies have started off;
• The idea is to de-clutter courts and disposes of cases arising because of differences in the interpretation of GST provisions;
• The proposed scheme is likely to be on the lines of the Centre’s ‘Sabka Vishwas Scheme’ of 2019, which looks to resolve all legacy disputes relating to erstwhile Service Tax and Central Excise;
• Officials said setting up Tribunals may take some time and in the interim, a one-time dispute settlement mechanism may speedily help clean up small disputes;
• A second official said, making a case for this one-time settlement scheme, “There are instances where the department has spent more money on pursuing the litigation than the tax claims,”.

For any further clarification/doubt, feel free to contact GST professional. Our team of GST experts assist in comprehensive matters in regard to GST.

Source: Economics Times

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VIKASH Shaw

How to purchase from an URP/URD And sale in Registered. Hsn code is 71129990. Most of the suppliers is feriwala they don't have any Gst registration.

ASC Group

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