The 57th meeting of the GST Council will be held in New Delhi on October 8. The meeting was initially scheduled for October 7 and has been rescheduled.

Finance ministers of the Centre and states are expected to take up key tax issues. Fitment panel consolidations, refund timelines and real estate rate structures are on the agenda, according to reports.

The Council is the top decision-making body for indirect taxes in India. It is headed by the Union Finance Minister and includes state finance ministers.

Businesses are watching the meeting closely. Exporters have raised concerns about delayed refunds. Real estate developers want clarity on the tax structure for property deals.

The meeting comes at a sensitive time for the economy. The RBI raised interest rates on October 7 to fight inflation. Tax policy decisions can also affect prices of goods and services.

The Council last met earlier this year and had announced rate rationalisation measures. Industry groups have since submitted fresh requests for relief in several sectors.

Decisions taken at the meeting will be announced after the session ends. Any change in tax rates will need to be notified by the government before it takes effect.