GST Council Reconstitutes Key Panel to Boost System Reform

The GST Council has reconstituted a key panel to facilitate system reforms. Major decisions include an increase in the threshold for reporting B2C inter-state supplies from INR 2.5 lakh to INR 1 lakh, and a proposed amendment in Section 16 of the IGST Act to restrict IGST refunds on exports subject to export duty. The Council also plans to implement Aadhaar-based authentication for GST registration across India and introduce a common timeline for issuing demand notices and orders. Other significant updates involve reducing the pre-deposit amounts for filing appeals and introducing a sunset clause for anti-profiteering provisions under GST.