GST Council meet starts with focus on ease of doing business, ITC overhaul and decriminalisation on agenda
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The 57th GST Council meeting started in New Delhi with a focus on ease of doing business.
- ✓The council will consider major reforms like wider input tax credit eligibility and faster refunds.
- ✓They also plan to decriminalise many offences and remove arrest provisions to help businesses and MSMEs across India.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
The 57th GST Council meeting is set to consider major GST 2.0 reforms, including wider input tax credit eligibility, protection for genuine buyers from supplier defaults, faster refunds, simpler GST registration and MSME compliance relief. Proposed changes also include removing GST arrest provisions, raising the prosecution threshold, easing export rules and targeted rate tweaks across sectors.
New Delhi: The 57th GST Council meeting begins with a significant focus on input tax credit (ITC) reforms, to consider a series of measures that could ease credit restrictions for businesses, address supplier-default issues, simplify registration and refund process and widen the scope of eligible credits across key sectors.
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Economic Times
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