Finance minister Nirmala Sitharaman recommends Amnesty scheme for of compliance burden of small taxpayers.

GG News Bureau
New Delhi, 29th May. Finance Minister Nirmala Sitharaman recommended the ‘Amnesty Scheme’ for reducing late fees on returns in the 43rd GST Council meeting held here on Friday The FM said that small taxpayers can file pending returns via the Amnesty Scheme.
The news scheme will provide relief and help in reducing compliance burden of small taxpayers & medium-sized taxpayers.
The finance minister said that the taxpayers will now be able to file their pending returns and avail the benefits of this Amnesty scheme with reduced late fees.
About 89% of the GST taxpayers constitute small taxpayers,
The finance minister has also also rationalized late fee and has taken the decision to reduce the maximum amount of late fee for small taxpayers will come into effect for future tax periods
The rationalised late fee and the decision to reduce the maximum amount of late fee for small taxpayers will come into effect for future tax periods thus providing long term relief to the taxpayers.