GST Council Proposes Refunds Acknowledged Within 10 Days
· Business · Zee News, Times of India
The GST Council is considering structural reforms in the GST system that propose acknowledging refunds within 10 days. Under the proposed changes, 90 per cent of refunds would be released following a risk check using details drawn from customs and other sources. The reform initiatives also focus heavily on e-commerce transactions and the export of services. These measures aim to streamline processing times and ease compliance burdens for businesses operating across India. Further implementation timelines and final procedural details are expected to be released following council deliberations.
Why it matters
Faster tax refunds directly improve working capital for Indian exporters and e-commerce businesses.
Read the original report — Zee News
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.