Relief for small biz. Govt sets the ball rolling on decriminalisation of GST Act

GST

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• Oct 31, 2022
  Decriminalisation of Goods and Services Tax Act is on the cards, which would give a big reprieve to small businesses in India, sources told businessline. In what could be a major overhaul of the GST Act in nearly six years after it came into effect, the government is likely to raise the threshold limit for initiating criminal prosecution against GST evasion and draw a clear distinction between minor offences and wilful evasion under the proposed new changes, the sources said.
  

• New changes
  The threshold limit for launching criminal proceedings under GST will be raised to ?20 crore and also the property of offenders below the set threshold will not be attached, as per the new changes to the GST Act being thought about, the sources said.

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