GST Council eases tax rules for IT exports

The Indian Goods and Services Tax Council has made several adjustments to the tax regime aimed at easing the burden on businesses and reducing punitive measures for GST offences. The council has removed the power of arrest from tax officials, eliminated the threshold for prosecution which has been raised to 50 million rupees, and decreased the general penalty from 25,000 to 10,000 rupees.

These changes come as businesses have expressed frustration over stringent tax practices and a desire for a more streamlined process. While these adjustments do not alter GST rates, they will be reviewed annually at a designated meeting.

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