Economy
GST Council Unveils Reforms To Simplify Registration, Refunds And Reduce Litigation
The Hindu2h
THE BRIEF
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The GST Council announced major reforms during its 57th meeting in New Delhi to streamline refunds, registration, and litigation rules effective from April 1, 2027.
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Finance Minister Nirmala Sitharaman stated that 99% of GST rate and process issues have been addressed, with rate decisions restricted to once a year.
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The Council approved an optional annual return scheme for businesses with turnovers up to ₹5 crore, faster refund acknowledgments, and dropped tax notices below ₹10,000.