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GST Council to Meet on October 7; ITC Relief on Agenda

The GST Council will meet on October 7 to discuss tax relief measures. Input tax credit (ITC) relief is high on the agenda.

The meeting comes weeks after the GST rate rejig took effect on September 22. Businesses are still adjusting to the new structure.

Industry bodies have asked for clarity on ITC claims. They say the transition has created confusion in some sectors.

The Council may also review rates on select goods and services. Any change needs the support of both the Centre and the states.

Finance Minister Nirmala Sitharaman will chair the meeting. State finance ministers will attend.

Decisions taken at the meeting could affect prices of daily goods. Traders and companies are watching the outcome closely.

The Council last met before the September rate changes took effect. Businesses want smoother refunds and fewer tax disputes. Small traders say compliance is still complex. The meeting's decisions will be announced after it ends. States will then issue matching notifications.

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