The GST Council’s 48th meeting was held in Delhi on December 17, 2022 under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the recommendation to decriminalize certain offences under Section 132 of the Central Goods and Services Tax Act, 2017 (“the CGST Act”) i.e. ‘Punishment for certain offences’, increase in threshold of amount of tax for prosecution and reduction in amount of compounding in GST. In this regard, the Council has recommended to-
- Raise the minimum threshold of tax amount for launching prosecution under GST from Rs. One Crore to Rs. Two Crores, except for the offence of issuance of invoices without supply of goods or services or both;
- Reduce the compounding amount from the present range of 50% to 150% of tax amount to the range of 25% to 100%;
- Decriminalize certain offences specified under clause (g), (j) and (k) of sub-section (1) of Section 132 of CGST Act, viz.-
- obstruction or preventing any officer in discharge of his duties;
- deliberate tempering of material evidence;
- failure to supply the information.
The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1884399
Online Recorded GST Course on:
Scrutiny Notices, Assessment, Audit, Inspection, Search, Seizure and Arrest under GST (September, 2022) by CA. Bimal Jain
₹2,499/- Register Now !!
https://www.a2ztaxcorp.in/product/gst-course-new/
- Inclusive of GST
- Recording of 4 Sessions | 12 Hours
- Updated till September 2022
- The validity of the Recorded Session is 3 Months with Unlimited Viewing.
For details, or any queries,
Call us at: 8076563802, 011 42427056 or E-Mail us at: info@a2ztaxcorp.com, intern@a2ztaxcorp.com or Visit: www.a2ztaxcorp.in