43rd GSTCM Minutes

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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.

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