https://www.taxtmi.com/article/detailed?id=9810 The Council extended import exemptions for specified Covid relief items-including Amphotericin B-and exempted Covid-related relief imports for donation or purchase upon state recommendation for set periods. It recommended an amnesty to reduce late fees for small and medium taxpayers with the rationalized late fee applying prospectively, allowed optional annual returns for small taxpayers for FY2020-21 with reconciliation required only above a higher turnover threshold, tasked a committee on quarterly return modalities, and retained the prior compensation cess formula while proposing central borrowing to meet states' compensation demands. en-us Tue, 01 Jun 2021 10:49:18 +0530 Tue, 01 Jun 2021 10:49:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9810 The Council extended import exemptions for specified Covid relief items-including Amphotericin B-and exempted Covid-related relief imports for donation or purchase upon state recommendation for set periods. It recommended an amnesty to reduce late fees for small and medium taxpayers with the rationalized late fee applying prospectively, allowed optional annual returns for small taxpayers for FY2020-21 with reconciliation required only above a higher turnover threshold, tasked a committee on quarterly return modalities, and retained the prior compensation cess formula while proposing central borrowing to meet states' compensation demands. Articles Goods and Services Tax - GST Tue, 01 Jun 2021 10:49:18 +0530 https://www.taxtmi.com/article/detailed?id=9810