In a significant move aimed at providing relief to taxpayers and simplifying compliance procedures, GST Council Meeting has recommended in its 50th Meeting the extension of several crucial amnesty schemes and relaxations. These measures, covering non-filers of certain returns, the revocation of registration cancellations, and assessment order withdrawals, have been extended until August 31, 2023. Additionally, the relaxations provided for the financial year (FY) 2021-22 regarding various aspects of FORM GSTR-9 and FORM GSTR-9C will be continued for FY 2022-23
Extension of Amnesty Schemes
i. Non-filers of Returns (FORM GSTR-4, FORM GSTR-9, and FORM GSTR-10)
The GST Council has recommended the extension of amnesty schemes initially introduced through notifications dated March 31, 2023. These schemes provide relief to non-filers of returns such as FORM GSTR-4, FORM GSTR-9, and FORM GSTR-10 [For the year 2017-18, 2018-19, 2019-20 and 2020-21]. The extension until August 31, 2023, offers non-compliant taxpayers an opportunity to rectify their filing status without incurring penalties or legal consequences.
ii. Revocation of Cancellation of Registration
Taxpayers who had their GST registrations canceled and wish to have them reinstated will also benefit from the extension of these amnesty schemes. The recommended extension allows for the revocation of canceled registrations until August 31, 2023, providing a lifeline for those seeking to regularize their compliance status.
iii. Deemed Withdrawal of Assessment Orders
Assessment orders issued under Section 62 of the CGST Act, 2017, will also be covered by the extension. Taxpayers with such assessment orders will have until August 31, 2023, to rectify any discrepancies and avoid the deemed withdrawal of these orders.
Continuation of Reporting Simplifications
The GST Council recognizes the need for simplifying compliance, and to that end, it has recommended the continuation of the relaxations introduced in the financial year 2021-22 regarding FORM GSTR-9 and FORM GSTR-9C. These relaxations, which aim to simplify the reporting process, will remain in place for FY 2022-23.
The extension of amnesty schemes and the continuation of reporting simplifications underscore the government’s commitment to easing the compliance burden on taxpayers. These measures provide an opportunity for non-compliant taxpayers to rectify their filing status without facing punitive consequences. Furthermore, the simplifications in reporting acknowledge the challenges taxpayers face and seek to streamline the compliance process.
As these recommendations take effect, it is essential for taxpayers to stay informed, take advantage of the extended amnesty schemes if applicable, and ensure accurate and timely filings. Ultimately, these initiatives align with the broader goal of fostering a taxpayer-friendly and efficient GST system in India.