GST Council raises prosecution threshold to ₹5cr, drops minimum punishment
Business
Big update from the latest GST Council meeting: rules are getting simpler for businesses.
The GST Council has bumped up the amount for prosecution under GST from ₹1 crore to ₹5 crore and dropped the minimum punishment.
PM Modi called these moves "very positive impact," saying they're all about making life easier for businesses and cutting down on compliance headaches.
GST Council cuts penalties to ₹10,000
Penalties just got lighter, dropping from ₹25,000 to ₹10,000, and judges now have more say in how they're applied.
There is also a new focus on smarter tech to catch fake credits by matching seller and buyer invoices.
Plus, the council wants to make GST dispute procedures more consistent across the board, all aimed at boosting transparency and efficiency.