GST Council approves broad set of process reforms, resolves credit blockages
09-Oct-2026
The Goods and Services Tax (GST) Council on Thursday approved a raft of process and systems reforms that will help make India’s indirect tax regime more globally aligned, offering simpler compliance, faster flow of genuine tax credits and less scope for litigation. The reforms are expected to align the government’s objectives more closely with business and consumer interests—raising revenue productivity, reducing costs, improving competitiveness for businesses, and potentially lowering prices for consumers.
The key provisions approved by the Centre-state body, the final arbiter of the dual-jurisdiction destination-based consumption tax, include removing the arrest powers of tax officers under GST laws, speeding up registration and cancellation, bolstering system-driven refunds, expanding input tax credit (ITC), simplifying litigation and reducing physical checks on goods in transit. The reforms will ease compliance for small businesses and encourage more of them to join the organised value chain, including as sellers to the thriving e-commerce platforms.
News Source:- https://www.financialexpress.com/policy/economy-gst-council-approves-broad-set-of-process-reforms-resolves-credit-blockages-4356846/?ref=hometop_hp
|