India may reform GST by limiting arrest powers and raising prosecution standards
The GST Council recommended raising the prosecution threshold from Rs 1 crore to Rs 5 crore and shortened refund acknowledgment from 15 to 10 days.
- The GST Council recommended raising the prosecution threshold from Rs 1 crore to Rs 5 crore.
- The GST Council approved extending refunds under the inverted duty structure to input services.
- The GST Council scrapped the power of tax officers to arrest taxpayers.
- The GST Council shortened the time to acknowledge refund claims from 15 days to 10 days.
- The GST Council will consider removing criminal liability for nine offences.
- The GST Council set a threshold of Rs 10,000 for issuing show-cause notices.
- The government plans to move central GST administration to a faceless, centralized model.
Outlets: Business Recorder, Business Standard, Hindustan Times, Mint, The Economic Times, Times of India (Top)
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