LatestGoods & Service Tax (GST) 8 October 2026
GST Council Considers Automated ITC Refunds and GCC Relief
On October 8, the GST Council convened to discuss major tax reforms, including the introduction of automated input tax credit refunds and relief for the GCC (Goods and Services Tax Credit) scheme. Government sources indicate the council may amend GST law to streamline refunds, improve compliance, and reduce processing delays for businesses across India.
The GST Council met on October 8 to address several pressing tax issues.
- Automated ITC refunds: Proposal to amend the GST law so input tax credit refunds are processed automatically, cutting down waiting times.
- GCC relief: Discussion on easing the Goods and Services Tax Credit burden for eligible businesses.
- Broader impact: Expected to boost compliance and reduce administrative hassles.
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