New GST Reforms To Simplify Procedures, Cut Compliance Costs, Improve Tax Administration: PM Modi
“I welcome the new round of GST reforms approved by the GST Council,” Modi said in a post on X, describing the focus as“faster decisions, lower compliance costs, automated refunds and trust-based administration”.
He noted that the recommendations on removing arrest provisions, greater decriminalisation and simplifying procedures would have a positive impact and help make GST more efficient, transparent and citizen-friendly.
At its 57th meeting on Thursday, the GST Council approved removing the arrest powers of tax officials and raising the prosecution threshold fivefold to Rs 5 crore. It also approved faster, largely automated refunds for taxpayers.
Finance Minister Nirmala Sitharaman said the Council had also decided to reduce the general penalty from Rs 25,000 to Rs 10,000.
(KNN Bureau)
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