GST Council meets September 12 in New Delhi for businesses
Business
The GST Council is finally meeting again in New Delhi on September 12, after nearly a year.
This session is all about making life easier for businesses: think smoother compliance, fixing tricky tax credit issues, and letting small companies register in more than one state without the usual hassles.
GST Council proposes ITC extensions
Key proposals include making sure buyers don't lose their input tax credit (ITC) if they pay through official banking channels, even if suppliers mess up.
There's also talk of extending ITC to company cars used by employees and to group health or life insurance policies.
Plus, the council wants to clear up confusing rules around corporate guarantees and tackle long-standing refund headaches, aiming for a system that just works better for everyone.