In 40th GST Council meeting held under chairmanship of hon’ble Finance Minister Mrs. Nirmala Sitharaman through video conferencing, GST Council has recommended to give one time opportunity to such GST return defaulters.
Amendment under Goods and Service Tax (“GST”) law has been a constant process and considering issues and representation of industry, new changes are proposed in every GST Council meeting. Suggestions made by the 39th GST Council Meeting 39th GST Council meeting held on 14th March 2020, under the chairmanship of hon’ble Finance Minister wherein following key changes were suggested: 1. Interest on net cash Liability In case of delayed payment of GST, whether interest is payable on net Cash liability or gross tax liability (i.e., including ITC) has been matter of dispute since long time and various legal precedents and
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