LatestGoods & Service Tax (GST) 6 October 2026
Global GST & VAT Updates: Council Plans, SME Relief, and Crypto Rules
Malaysia’s think tank proposes a GST to replace part of income tax and give cash‑flow relief to SMEs, while India’s GST Council plans restructuring, refunds before its Oct 8 meeting, and experts say the changes help businesses. Australia issues VAT guidance on virtual asset sales and a former RBI governor urges tax‑free UPI.
- Malaysia: A think tank suggests introducing a GST to replace part of income tax and provide cash‑flow relief for SMEs. Read more
- India: The GST Council is set to restructure officer panels and speed up refund processing ahead of its Oct 8 meeting, with experts viewing the reforms as business‑friendly. Details
- Australia: New VAT guidance clarifies that the sale of virtual assets and stablecoins is outside the scope of VAT, though service fees remain taxable. Full guidance
- UPI Tax Issue: Former RBI governor C Rangarajan urges the GST Council to treat the UPI payment system as a public good and keep it tax‑free. Read article
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