Key Factors –

• The Goods and Services Tax (GST) Council scheduled to meet virtually on 17 December, is likely to discuss the decriminalization of offences under GST law, along with raising the threshold of launching prosecution to ₹20 crore, from ₹5 crore at present.
• In September, the Government said that GST officers can launch prosecution against GST offenders in cases where the amount of evasion or misuse of input tax credit is more than ₹5 crore. Launching of prosecution by taxmen means commencement of legal proceedings against the offender.
• The GST Council is most likely to consider removing those penal offences which are already covered under the Indian Penal Code (IPC) from the GST Act to make it more taxpayer-friendly.
• Officials added that the law committee of GST officers has finalised the changes in Section 132 of the GST Act as part of the exercise to decriminalise the law.
• The GST Council is most likely approve the proposal of GST law decriminalisation, further which amendments to central GST Act is expected to be introduced in the winter session of Parliament beginning December 7.

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