Quick Summary
The newly introduced Section 11A of the GST Act 2017 will be applied only in "rarest of the rare cases" to offer retrospective Goods and Services Tax (GST) relief, clarified Revenue Secretary Sanjay Malhotra after the GST Council's meeting on September 9. He stressed that Section 11A is not intended for general use and that no formal discussion on issuing a circular regarding its application took place during the meeting. Section 11A, introduced through an amendment, is designed to shield bus
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FAQ :
Section 11A is a newly introduced provision in the GST Act 2017 designed to shield businesses from hefty retrospective tax demands.
It will be applied only in 'rarest of the rare cases' to offer retrospective Goods and Services Tax (GST) relief.
No formal discussion on issuing a circular regarding its application took place during the GST Council's meeting on September 9.
Sectors such as real-money gaming, which are facing significant GST liabilities from past periods, could potentially benefit.
The circulars are expected to reduce litigation, provide businesses with clearer tax compliance understanding, and ease long-standing disputes.
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