8-October-Meeting: An important update has surfaced regarding the 57th meeting of the GST Council. The meeting which was earlier scheduled to be held on October 7 will not be held on that day. GST The Council Secretariat has announced the new meeting schedule by releasing an office memorandum. Now the meeting will be held on October 8, Thursday. The reason for the change in the date of the meeting has been officially given as ‘inevitable circumstances’. Notably, the schedule of the 57th GST Council meeting has been changed for the second time.

The meeting will be chaired by Nirmala Sitharaman

The GST Council meeting to be held on October 8 will be chaired by Union Finance Minister Nirmala Sitharaman. Finance Ministers of various states will also be present in the meeting. The meeting can discuss several important issues related to simplifying the process of GST and reducing the burden of tax compliance for traders.

Discussion of changes in GST registration and refund process

The meeting is likely to discuss the necessary changes in the process of GST registration, return filing and refund. Apart from this, policy reforms can also be considered for speedy resolution of disputes related to GST.

Discussions are also likely to be held on how to make the flow of input tax credit smoother and more efficient. The government aims to reduce the time and cost involved in the GST compliance process for traders.

GST also looks at decriminalizing some offences

According to sources, decriminalization of some GST-related offenses may be discussed in the meeting. That is, certain types of wrongs or offenses may be considered to be excluded from the category of criminal offences. Apart from this, a proposal to amend the provisions relating to the power of arrest of GST officers may also be discussed. Other procedural reforms may also be considered to make tax compliance easier for traders. The issue of simplifying the process of GST compliance for suppliers involved in the e-commerce sector may also come up in the agenda of the meeting.

The date was earlier changed due to the BRICS summit

The 57th GST Council meeting was originally scheduled to be held on September 12. Subsequently, the date of the meeting was changed to October 7 in view of the BRICS summit held in India. India hosted the BRICS Summit in New Delhi on September 12 and 13. Now the meeting of October 7 has also been rescheduled and the new date has been fixed on October 8. This time the GST Council meeting is likely to focus on procedural reforms related to registration, returns, refunds, input tax credit and compliance rather than changes in GST rates.