GST Council likely to have approved faster registration, quicker refunds for exporters: 56th GST Council Meeting Update

56th GST Council Meeting Update: GST Council likely to have approved faster registration, quicker refunds for exporters

• GST Council Considering Proposals Related To Insurance Sector
• GST Council Likely To Have Approved Bringing In Registration Process Down To 3 Days For Non-risky Biz
• Registration To Be Issued Within 3 Working Days From The Date Of Filing Of Application
• GST Council Likely To Have Approved Issuance Of Refunds In Case Of Exports In 7 Days
  • Refunds on provisional basis up to 90% of claims likely to be issued to non-risky taxpayers
  • Refunds stuck under inverted duty structure for textile, pharma to be approved in 7 days on provisional basis
  • Refunds stuck under inverted duty structure for chem, fertiliser to be approved in 7 days on provisional basis
• GST Council meeting underway

Source from:https://www.cnbctv18.com/economy/gst-council-meet-live-updates-rate-cut-proposals-nirmala-sitharaman-two-slab-structure-taxation-reforms-liveblog-19663671.htm