GST amnesty scheme will be easy, those with canceled registration can get a chance
Businessmen who are not able to take advantage of the amnesty scheme due to the cancellation of GST registration can also get relief soon. According to sources, the Finance Ministry is contemplating restoring the registration of such traders.
The GST amnesty scheme will end on August 31. At present, those businessmen are in tension, whose registration has been canceled due to non-filing of returns. The time for submitting the application for reactivation of registration has also passed. There are more than 8 lakh such businessmen.
The amnesty scheme was announced in May to provide relief from late fees. But the businessmen whose registration has been canceled before February 2021 cannot apply to activate the account after 90 days of cancellation order. They have to file a departmental appeal to get the cancellation canceled which is a long and cumbersome process. In view of these problems, organizations of more than one and a half dozen tax professionals have sent a letter to the Finance Ministry demanding relief at the earliest.
In fact, taking strict action, the department had canceled more than 16 lakh GST registrations during the last one year. There were also more than 50 percent non-filers in this. However, Finance Ministry is taking a soft look at the GST registration canceled during the Corona period so that small traders can get a chance to stand on their feet once again through the Amnesty scheme.
