GST Council bets on faster refunds, lower penalties to ease business burden
The 57th GST Council meeting has introduced measures to simplify compliance and expedite refunds for businesses. Recommendations include increasing the prosecution threshold and reducing penalties for non-compliance. The proposed framework features faster acknowledgement timelines for claims and provisional refunds for taxpayers. Changes to the inverted-duty structure are set to unlock credits in…
We haven't written up this one. The Economic Times - Economy has the full story — the link below goes straight to it.
