Tag: gst council
GST Council proposes 2% TDS on scrap deals
NEW DELHI: The 57th Goods and services tax (GST) Council has proposed a 2% tax deducted at source (TDS) on specified waste and scrap transactions…
GST Council bets on faster refunds, lower penalties to ease business burden
The 57th GST Council meeting has shifted focus from rate rationalisation to easing compliance, accelerating refunds, and reducing litigation, tax experts said, while flagging potential…
GST 2.0 makes it less taxing as govt scrap arrest powers, raise prosecution threshold to Rs 5 crore in major overhaul
New Delhi: The GST Council approved a sweeping recast of the indirect tax structure that includes scrapping arrest powers, besides easing the compliance structure and…
GST reforms: 16 lakh small businesses may get annual return option, easier e-commerce selling
More than 16 lakh small businesses that sell directly to consumers could soon file only one GST return annually with the GST Council’s in-principle nod…
GST reforms: 38,700 exporters to get faster refunds, wider access to input tax credits
Almost 38,700 export taxpayers will become eligible to claim cash refunds on input taxes paid on services and plant and machinery, directly addressing the long-standing…
‘Faster decisions, lower compliance costs’: PM Modi welcomes new round of GST reforms
New Delhi: Prime Minister Narendra Modi on Thursday welcomed the new round of GST reforms approved by the Goods and Services Tax (GST) Council, saying…
GST Council meet starts with focus on ease of doing business, ITC overhaul and decriminalisation on agenda
New Delhi: The 57th GST Council meeting begins with a significant focus on input tax credit (ITC) reforms, to consider a series of measures that…
GST Council: Will Consumers Pay Less? | The Morning Brief – The Economic Times Video
Ahead of the GST Council meeting, Bipin Sapra, Partner and Indirect Tax Policy Leader, EY India, explains to Anirban Chowdhury the proposed changes to input…
GST Council to consider 17-day refund timeline, faster registrations
The GST Council, meeting Thursday, will seek to slash the refund period to around 17 days, which will include a maximum 10 days for acknowledgement,…
GST Council to focus on auto refunds, swifter ITC, fewer notices
NEW DELHI: The Goods and Services Tax (GST) Council is set to push through a major ease-of-doing-business reset on October 8, with the government proposing…