GST Council to meet September 12 for tax reforms

The 57th GST Council meeting is scheduled for September 12 in New Delhi, chaired by Union Finance Minister Nirmala Sitharaman. The meeting follows a period of significant restructuring where the tax system moved to a two-tier structure of 5% and 18% rates, with a maximum 40% rate for luxury and sin goods.

Key discussion points for the upcoming meeting include simplifying the registration process for large businesses that pass on tax credits exceeding Rs 2.5 lakh per month. The Council also aims to address automation and changes regarding GST registration cancellations to reduce uncertainty caused by non-uniform procedures between central and state formations.

Experts suggest that as the tax regime enters its tenth year, reforms should shift toward reducing litigation, strengthening input tax credit protections, and resolving legacy credit issues. A major area of concern is the online gaming industry, which faces significant tax demands following a Supreme Court decision regarding the classification of gaming, fantasy sports, and casino activities.