PM Modi welcomes GST reforms for faster decisions and lower compliance costs

Prime Minister Narendra Modi welcomed new GST reforms approved by the GST Council, citing faster decisions, lower compliance costs, automated refunds, and trust-based administration. The 57th GST Council meeting recommended removing arrest powers for GST officers, raising the criminal prosecution threshold from Rs 1 crore to Rs 5 crore, and reducing general penalties from Rs 25,000 to Rs 10,000. The Council also proposed withdrawing notices below Rs 10,000 and limiting rate changes to once annually, effective April 1, aiming to simplify procedures and reduce taxpayer disputes.