The GST Council is set to meet in New Delhi on September 12, aiming to implement reforms that simplify the indirect tax system, including protections for input tax credit and streamlined registration processes for businesses.
The GST Council is set to convene in New Delhi on September 12, nearly a year after its previous meeting, with a slate of proposals aimed at making India’s indirect tax system easier to use for businesses, according to an official communication from the GST Council Secretariat. The meeting of tax officers is due on September 11, ahead of the 57th Council session chaired by Finance Minister Nirmala Sitharaman.
Among the main items on the agenda is a proposal to soften the impact of blocked input tax credit, or ITC, for buyers when suppliers do not deposit tax with the government. People familiar with the discussions said the Council is examining ways to protect businesses from losing credit in such cases, a change that could ease working-capital pressure and reduce disputes.
Officials are also expected to consider simplifying the GST treatment of corporate guarantees and allowing small businesses to register in more than one state. According to reports in the Economic Times, Times of India and Moneycontrol, wider registration reforms may also include steps to simplify the process for larger firms and automate cancellation procedures, reflecting a broader shift towards administrative clean-up rather than rate changes.
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