12 hrs ago
GST Council October 7 Meet Targets Process Reforms
The GST Council will meet on October 7.
The meeting is expected to focus mainly on making GST procedures simpler.
Officials want to reduce difficulties businesses face when following GST rules.
Changes to tax rates are not currently on the agenda.
Earlier rate changes created two main GST slabs.
This may reduce arguments about how goods and services should be classified.
The Council could also discuss the 18% GST charged on Merchant Discount Rate.
That charge has raised concerns about costs for merchants and UPI transactions.
The GST Council’s October 7 meeting is expected to focus on process reforms.
Rate-related matters are not currently included on the meeting agenda.
The government wants to streamline GST processes before the next phase of reforms.
The previous rate rationalisation exercise aimed partly to reduce litigation and classification disputes.
The Council may review the 18% GST on Merchant Discount Rate if the issue is taken up.
- Who
- The GST Council and the government.
- What
- A meeting is expected to discuss simplifying GST processes, with a possible review of the 18% GST on Merchant Discount Rate.
- Where
- Not specified in the article.
- When
- October 7; the article does not specify the year.
- Why
- To streamline GST procedures, reduce compliance difficulties, and potentially address concerns about Merchant Discount Rate costs.
Key facts
- Meeting date
- October 7
- Main focus
- GST process reforms and simpler compliance
- Rate matters
- Not currently part of the meeting agenda
- Current GST structure
- Two main tax slabs after the September rate rationalisation exercise
- Merchant Discount Rate GST
- 18%
- Possible additional issue
- A review of GST on Merchant Discount Rate may be considered
- Stated reform aim
- Reducing litigation and classification disputes
Sources
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