https://www.taxtmi.com/news?id=24067 The Council recommended temporary IGST exemptions for specified COVID 19 medical supplies including Amphotericin B when imported for donation or government directed distribution, and instituted an Amnesty Scheme capping or waiving late fees for pending GSTR 3B returns if filed within the prescribed window. It further proposed prospective rationalisation of late fee caps tied to turnover or nil liability, COVID era interest and filing relaxations, simplification and optionality for annual returns for FY 2020 21 with self certified reconciliation, and a pending retrospective amendment to interest computation on a net cash basis. en-us Sat, 29 May 2021 09:22:12 +0530 Sat, 29 May 2021 09:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24067 The Council recommended temporary IGST exemptions for specified COVID 19 medical supplies including Amphotericin B when imported for donation or government directed distribution, and instituted an Amnesty Scheme capping or waiving late fees for pending GSTR 3B returns if filed within the prescribed window. It further proposed prospective rationalisation of late fee caps tied to turnover or nil liability, COVID era interest and filing relaxations, simplification and optionality for annual returns for FY 2020 21 with self certified reconciliation, and a pending retrospective amendment to interest computation on a net cash basis. News - Sat, 29 May 2021 09:22:12 +0530 https://www.taxtmi.com/news?id=24067