The Ministry of Finance announced on 23 October 2026 that the Central Board of Indirect Taxes and Customs (CBIC) held a trade interaction meeting in Mumbai. The event, attended by about 150 representatives from Maharashtra's trade associations and taxpayers, focused on recommendations from the 57th GST Council meeting. Discussed reforms include simplified registration, faster system-based refunds, and measures to reduce litigation and coercion, such as withdrawing arrest powers. The release does not say when these changes take effect, though it notes they will be implemented in phases through future notifications.
Key points
- Discussed simplified registration and faster system-based processing of refunds.
- Highlighted measures to reduce coercion, including withdrawal of arrest powers.
- Aims to promote ease of doing business through a "trust first, verify later" philosophy.
- Changes from the GST council meeting will be implemented in phases.
When it applies
- 57th GST Council meeting
- Trade Interaction meeting in Mumbai
Who it affects
- taxpayers