{
  "id": 12376155,
  "title": "Centre to propose five-pronged reform plan at GST Council meeting on October 8",
  "url": "https://urgent.news/2026/10/06/centre-to-propose-five-pronged-reform-plan-at-gst-council-meeting-on",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T12:21:02.000Z",
  "source": {
    "name": "The Hindu",
    "slug": "the-hindu",
    "url": "https://www.thehindu.com/business/centre-to-propose-five-pronged-reform-plan-at-gst-council-meeting-on-october-8/article71551328.ece"
  },
  "original_language": "en",
  "account": "The Centre plans to propose a five-pronged reform strategy for the Goods and Services Tax (GST) system during the upcoming GST Council meeting on October 8, according to sources in the Ministry of Finance. The primary objective is to streamline administrative processes, ease compliance for small businesses, and enhance overall efficiency. The reforms encompass process improvements, structural adjustments, increased ease of living and doing business, expansion of exports for services, and online e-commerce. Key updates include automatic invoice matching between buyers and sellers, simplifying input tax credit (ITC) claims, decreasing the frequency of filings for small taxpayers, and eliminating multi-state registrations for businesses operating nationwide. These reforms are set to be reviewed at the GST Council meeting and, if approved, will be implemented gradually to allow businesses sufficient time to adapt. Presently, 61% of GST taxpayers receive their registration within three working days without involving a tax officer; the Centre aims to improve this rate further. The proposal also addresses invoice management, ensuring that corrections and updates are accurately reflected in the buyer's invoice, thus reducing errors and notice issuance. Current challenges with input tax credits being delayed due to supplier return issues will be targeted, with the Centre ensuring that credits are granted based on actual payment of taxes by suppliers. Additionally, the Centre suggests including ordinary business costs in the ITC system and extending eligibility for input taxes paid on service inputs. Refunds are expected to be processed within ten days, with 90% released through automated checks from Customs and banking data. The proposal to allow small businesses to file returns annually, rather than monthly, and to expand the definition of exports to include services provided to foreign clients remotely, are designed to reduce bureaucratic hurdles. Lastly, small businesses will be permitted to register once in their home state, enabling nationwide operations, thereby easing the administrative burden on small sellers.",
  "summary": "According to sources in the Finance Ministry, the proposal covers process reforms, structural reforms, ease of living and doing business, exports of services, and e-commerce",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}