Centre announces Amnesty scheme for small tax payers

New Delhi, May 28 (ANI): Finance Minister Nirmala Sitharaman on May 28 announced amnesty scheme for small GST taxpayers, allowed filing of returns with reduced late fee.“One of the biggest decisions today is reduction of compliance burden of small taxpayers and medium-sized taxpayers. Late fee, Amnesty-related matters also decided upon. To provide relief to small taxpayers, an Amnesty scheme recommended for reducing late fee payable in these cases,” Sitharaman said while addressing a press conference in Delhi. “Taxpayers can now file their pending returns and avail the benefits of this Amnesty scheme with reduced late fees. Late fees have also been rationalised. The rationalised late fee and the decision to reduce the maximum amount of late fee for small taxpayers will come into effect for future tax periods. This will provide a long term relief to small taxpayers,” she added.

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