5 hrs ago
GST Council to Consider Compliance Reforms Ahead of October 8 Trading
The GST Council is due to meet on Thursday, ahead of the October 8 trading session.
It will discuss ways to change how businesses register, file returns and receive refunds.
The council will also consider ways to settle tax disputes and help businesses use input tax credit.
These changes are intended to make following tax rules take less time and cost less.
Sources say the council may consider making some GST offences no longer criminal.
They also say it may consider removing GST officers’ power to arrest people.
The proposals could make tax compliance easier for businesses, including e-commerce suppliers.
The article does not say whether the council will approve these proposals.
The 57th GST Council meeting is scheduled for Thursday, described as tomorrow.
Union Finance Minister Nirmala Sitharaman chairs the council, which includes state ministers.
The council will discuss changes to GST registration, returns and refunds.
It will also consider reforms to resolve disputes and improve the flow of input tax credit.
Sources say proposals may include decriminalising GST offences, removing officers’ arrest powers and easing compliance for businesses, including e-commerce suppliers.
- Who
- The GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state ministers.
- What
- A meeting to discuss GST process and policy reforms, including possible changes to compliance and enforcement.
- Where
- When
- Thursday, described as tomorrow; the article refers to the October 8 trading session.
- Why
- To reduce the time and cost of compliance, resolve GST disputes and improve the flow of input tax credit.
Key facts
- Meeting
- 57th GST Council meeting
- Timing
- Scheduled for Thursday, described as tomorrow
- Chair
- Union Finance Minister Nirmala Sitharaman
- Topics
- Registration, returns, refunds, disputes and input tax credit
- Possible proposals
- Decriminalising GST offences and removing GST officers’ arrest powers
- Intended goal
- Reduce the time and cost of tax compliance
Sources
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