GST Council proposes 17 day refunds and fewer registration delays
The GST Council is looking to speed things up by cutting the refund timeline to just 17 days (10 for acknowledgment, seven for processing) compared to the current wait of up to 45 days.
They're also planning more automation so GST registrations don't get stuck in limbo, which happens to 39% of applications right now.
GST Council may ease online rules
If you're running a small business online, these changes could make life easier, especially if you use a recognized warehouse as a place of business.
The council also wants to scrap physical checks when canceling registrations (as long as taxes are paid and returns filed) and might expand what counts for input tax credits, like insurance or vehicle costs.
Plus, a new invoice matching system is already operating to catch fraud earlier and keep things fair for everyone.