https://www.taxtmi.com/article/detailed?id=9292 The 40th GST Council recommended relief on late fees and interest to ease compliance: waivers for nil-liability returns for prior periods, capped late fees for registered persons with tax liability, staged waivers and reduced interest rates for small taxpayers if returns are furnished by extended deadlines, and an extended window for revocation of cancelled registrations. Companies are permitted to verify certain returns through Electronic Verification Code under amended rules. The note also records ongoing litigation over transitional credit and concerns about inconsistent advance rulings, set against subdued GST collections and economic strain. en-us Thu, 25 Jun 2020 09:30:46 +0530 Thu, 25 Jun 2020 09:30:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9292 The 40th GST Council recommended relief on late fees and interest to ease compliance: waivers for nil-liability returns for prior periods, capped late fees for registered persons with tax liability, staged waivers and reduced interest rates for small taxpayers if returns are furnished by extended deadlines, and an extended window for revocation of cancelled registrations. Companies are permitted to verify certain returns through Electronic Verification Code under amended rules. The note also records ongoing litigation over transitional credit and concerns about inconsistent advance rulings, set against subdued GST collections and economic strain. Articles Goods and Services Tax - GST Thu, 25 Jun 2020 09:30:46 +0530 https://www.taxtmi.com/article/detailed?id=9292