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The GST Council in its next meeting is likely to discuss the decriminalisation of offences under GST law, along with raising the threshold of launching prosecution to Rs 20 crore from Rs 5 crore at present, officials said on Monday. The council, chaired by Union finance minister Nirmala Sitharama
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FAQ :
The GST Council is likely to discuss the decriminalisation of offences under GST law.
The proposal is to raise the threshold for launching prosecution from the current £5 crore to £20 crore.
The property of offenders below the new threshold of £20 crore will not be attached.
The GST Council is considering decriminalisation to make the law more taxpayer-friendly, including removing penal offences already covered by the Indian Penal Code.
The next GST Council meeting is scheduled to be held virtually on December 17th.
Once approved by the GST Council, amendments to the central GST Act are expected to be introduced in Parliament's winter session, followed by states amending their GST laws.
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