The biggest decision of the 43rd GST Council Meeting was on reducing the compliance burden on taxpayers,
- To provide relief to small taxpayers, an amnesty scheme has been recommended for reducing the late fee
- GST Return Filing Late fee also rationalized for future tax periods
- Import of Covid-related relief items exempt from IGST till August 31st, 2021. Amphotericin B, used for treating Mucor mycosis, will also be exempt from IGST.
- Annual return filings will continue to be optional for small taxpayers for the financial year 2021.
Download original PDF of 43rd GST Council Meeting minutes
