57th GST Council meeting: What businesses need to know

Grant Thornton Bharat’s PolicyCast is your window into policy, tax, and regulatory developments. Each episode features expert perspectives on issues that matter to businesses, individuals, and the wider economy.

What do the 57th GST Council’s recommendations mean for businesses and taxpayers?

Faster refunds, changes to input tax credit provisions and a proposed shift in enforcement. The 57th GST Council meeting addresses several long-standing industry concerns. The key question is how these recommendations could translate into meaningful change for businesses.

In the latest episode, Manoj Mishra, Partner and Tax Controversy Management Leader, Grant Thornton Bharat, discusses the implications of the recommendations and the issues that remain unresolved.

The conversation covers:

• Refunds and input tax credit: Potential implications for business liquidity and tax efficiency.
• Enforcement reforms: What the proposed changes to arrest powers and prosecution thresholds could mean for taxpayers.
• Reducing litigation: The role of greater clarity in GST provisions in providing tax certainty.
• Pending issues: The legacy disputes and interpretational challenges that continue to concern businesses.

Tune in for insights on the proposed reforms, their potential impact on businesses and the key developments to watch as India’s GST framework evolves.

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