GST Council may scrap arrest provisions, fast-track refunds with 90% automatic payout
New Delhi, Oct. 5 -- The 57th GST Council meeting is likely to consider major changes in tax compliance, including a proposal to remove arrest provisions under the Goods and Services Tax (GST) law and speed up refunds by allowing 90 per cent of eligible claims to be released automatically after a risk check, according to Finance Ministry sources.
The proposed reforms are aimed at making GST compliance simpler for businesses while using data and technology to identify risky cases. The Council is scheduled to meet on October 7.
As per sources, one of the key proposed changes is the complete removal of arrest provisions under GST. Under the proposed framework, tax enforcement would rely on civil consequences such as tax recovery, interest ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.