GST Council meets today; decriminalisation, faster refunds and MSME relief on cards
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The GST Council meets in New Delhi on October 8 to discuss key reforms.
- ✓The agenda includes faster refunds, easier registration, and decriminalising offences for businesses.
- ✓Officials said these changes aim to use technology to make tax processes simpler.
Story at a Glance
- Category
- BUSINESS
- Reported By
- MoneyControl
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Faster refunds, easier registration, simplified processes for claiming Input Tax Credit (ITC), decriminalised offences and a revised definition of exports top the agenda of the GST Council which meets in New Delhi on October 8. The 57th GST council meeting has an extensive agenda covering issues affecting businesses across sectors, including agriculture, MSMEs, exports and manufacturing, sources said. These proposed changes aim to use technology to make GST administration simpler and more predictable.
One of the main proposals is to decriminalise offences under the GST regime, with the council, which takes decisions through consensus to debate stripping tax authorities of their arrest powers, they added. The current framework gives the commissioner the power to authorise arrest where there are reasons to believe that a person has committed offences such as fake invoicing, ITC claims and refunds or tax evasion.
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