|
The 57th meeting of the GST Council has been rescheduled to October 8 from October 7, with the Council expected to consider a series of proposed measures to ease GST compliance, including changes to arrest provisions and faster refunds.
According to an office memorandum issued by the GST Council Secretariat on Monday, the meeting will now be held on Thursday, October 8, from 11 am onwards at Bharat Mandapam, New Delhi. The meeting was rescheduled due to unavoidable circumstances, the notification said. The earlier schedule had placed the 57th GST Council meeting on October 7, with several proposals aimed at simplifying tax compliance for businesses expected to be considered. Among the key proposals is the possible removal of arrest provisions under the GST law, with tax enforcement instead relying on civil consequences such as recovery of tax, interest and penalties, while prosecution would continue in serious cases, as per sources. The proposals also include raising the prosecution threshold from Rs 1 crore to Rs 5 crore and changing the treatment of GST-related offences. Under the proposed framework, several offences could be removed or softened, while the minimum sentence could be done away with and fines allowed in every case. Another major proposal concerns GST refunds, particularly for exporters. The Council may consider a system under which 90 per cent of eligible refund claims could be released automatically after a risk check, with the balance released after verification. Refund applications could also be acknowledged within 10 days, with applications deemed acknowledged if no action is taken within that period. The proposed changes also seek greater use of data from customs, the Reserve Bank of India and other sources to reduce the need for businesses to submit documents separately. The refund framework could be expanded to cover services and plant and machinery, while the proposals also include measures for duty drawback exporters. For smaller taxpayers, the package could include waiver of late fees for delayed returns, rationalisation of general penalties and faster registration for eligible applicants. The meeting was earlier scheduled for October 7. The rescheduling comes as the Council is set to take up issues relating to GST administration and compliance, based on the proposals outlined ahead of the meeting. (ANI)
|
