GST Council clears a procedural overhaul but leaves rates largely unchanged
The GST Council cleared a big procedural overhaul and kept rates largely unchanged, Mint reported. It approved an optional quarterly tax-payment scheme for small businesses. The Economic Times reports a plan for a faceless, centralised CGST system. The Hindu reports states asked for revenue protection, and, from a single source, a 3 per cent IGST on gold and silver imports by banks and nominated agencies.
Procedures decide how much time and money a small firm spends on compliance.
Small traders may soon pay tax quarterly if they opt in. Rates on your bills do not change for now.
Simpler procedure with unchanged rates is a safe start.
States want their revenue guaranteed before accepting more centralisation.
Read the notifications for the quarterly scheme's turnover limit, which was not in the reports we saw.
DailyDrop India edition No. 5 · Morning · FRI., OCT. 9, 2026