The 57th GST Council meeting is set to conclude shortly, according to NDTV Profit.
Key takeaways reported so far:
- Most proposals on process reforms have received the Council’s nod.
- Phase 2 of GST 2.0 is focused on structural and process reforms.
- Blocked ITC to be rationalised; genuine buyers may retain credit.
- Uniform GST treatment approved across business models of e-commerce.
- Faster refunds, simpler registrations and easier compliance also get the nod.
- GST enforcement to shift towards fraud detection and proportionate recovery; GST notices to be capped at Rs 10,000.
- FM Nirmala Sitharaman to brief the media on the meeting outcomes around 4:30 pm.
Source from: NDTV Profit (X post)
