GST Amnesty Scheme Circular likely in October/November

The GST Amnesty Scheme is expected to be launched in October or November, according to a circular likely to be issued by the government. The scheme is anticipated to provide relief to businesses by allowing them to settle outstanding GST liabilities with reduced penalties. It is aimed at encouraging compliance and clearing backlogs of pending GST dues. The upcoming circular will detail the terms and conditions of the amnesty, including eligibility criteria and the extent of penalty reductions. The scheme is seen as a government initiative to improve GST compliance and revenue collection while offering businesses an opportunity to regularize their tax affairs without facing excessive penalties.