Industry hails progressive GST reforms as major boost to ease of doing business
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The GST Council announced progressive reforms on October 8 to improve the ease of doing business.
- ✓They removed arrest powers under Section 69 and raised the prosecution threshold to Rs 5 crore.
- ✓Pratik Jain said, "The decision to automate the provisional grant of 90 per cent will provide a significant boost."
Story at a Glance
- Category
- BUSINESS
- Reported By
- MoneyControl
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
The process reforms announced by the GST Council on October 8 are progressive and forward-looking, ranging from unlocking working capital through input tax credit (ITC) rationalisation to improving the ease of doing business, industry executives and tax experts said. The deletion of arrest provisions from GST laws is a consequential decision, as tax officers will no longer have the power to arrest individuals under the provision, experts said. At its 57th meeting, the GST Council approved the removal of the power of arrest from GST laws through the omission of Section 69 of the Central Goods and Services Tax (CGST) Act, 2017.
Section 69 of the CGST Act was the statutory provision that empowered tax authorities to arrest individuals for specified serious tax offences. Its omission marks a shift away from administrative arrest powers towards a judicial, complaint-based prosecution process, experts noted.
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