Quick Summary
Aiming to decriminalise offences under GST, the government is working on a provision to raise the threshold limit for launching prosecution and lower charges for compounding of offence, an official said on 28 September. According to the current law, the amount of Goods and Services Tax (GST) evasion or misuse of input tax credit is more than₹5 crore for launching prosecution against offenders. We are working on making the provision under GST Act for prosecution more simpler and friendl
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FAQ :
The government is considering raising the current threshold limit of ₹5 crore for launching prosecution under GST for tax evasion or misuse of input tax credit.
The government intends to lower the compounding charges for offences under GST, making it more affordable for taxpayers to settle cases.
These changes are being considered to make GST laws more taxpayer-friendly, encourage ease of doing business, and decriminalise offences under GST.
Currently, the compounding fee can range from 50% to 150% of the tax amount involved, with a minimum of ₹10,000 and a maximum of 150% of the tax or ₹30,000, whichever is higher.
The proposed changes are likely to be presented to the GST Council at its next meeting.
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