https://www.taxtmi.com/article/detailed?id=12822 Budget proposals adjust customs duties and extend conditional duty exemptions for medical, research and assistive goods; exempt GST Compensation Cess on SEZ imports. Central Excise relief is proposed for excise stock subject to GST Compensation Cess. Key GST amendments exclude Extra Neutral Alcohol from levy, empower regularisation of non levy from trade practice, relax input tax credit timelines retrospectively for initial GST years, limit blocked ITC to demands up to a specified year, and introduce Section 74A to govern tax determination from the specified financial year with common limitation periods and penalty differentiation for fraud or wilful misstatement. en-us Thu, 25 Jul 2024 09:18:55 +0530 Thu, 25 Jul 2024 09:18:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12822 Budget proposals adjust customs duties and extend conditional duty exemptions for medical, research and assistive goods; exempt GST Compensation Cess on SEZ imports. Central Excise relief is proposed for excise stock subject to GST Compensation Cess. Key GST amendments exclude Extra Neutral Alcohol from levy, empower regularisation of non levy from trade practice, relax input tax credit timelines retrospectively for initial GST years, limit blocked ITC to demands up to a specified year, and introduce Section 74A to govern tax determination from the specified financial year with common limitation periods and penalty differentiation for fraud or wilful misstatement. Articles Goods and Services Tax - GST Thu, 25 Jul 2024 09:18:55 +0530 https://www.taxtmi.com/article/detailed?id=12822