GST Council shifts meeting to October 7 over BRICS summit
Business
The big GST Council meeting, originally set for September 12, has been moved to October 7 because it clashed with the BRICS summit in New Delhi.
The venue is likely still New Delhi, just a new date.
GST Council may ease ITC claims
This time, the Council is looking at ways to make compliance easier for businesses.
They will talk about letting buyers claim input tax credit (ITC) even if their suppliers drop the ball on paying taxes, so long as payments go through proper banking channels.
There is also discussion around ITC rules for things like employee-use vehicles and group insurance, plus making it simpler for small businesses to register in more than one state, and tweaks to refund processes.