GST Council likely to remove arrest provisions, speed up refunds
New Delhi, Oct. 5 -- The 57th GST Council meeting, scheduled for October 7, is likely to consider major compliance reforms, including removing arrest provisions under the tax regime, widening input tax credit and speeding up refunds, according to a Finance Ministry official.
Speaking to ANI, the official said safeguards built into the law in 2017 can now be relaxed as the system has become capable of detecting irregularities more effectively.
The invoice-matching system links details reported by sellers with input tax credit claimed by buyers, while mapping input and output ledgers with summary returns completes the trail.
As per the official, "fake credit can now be spotted close to where it arises and stopped before it travels down t...
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