GST Council meet on Oct 7 to focus on process reforms
BusinessLine 56 min ago·25 Sept 2026, 9:56 am
India's GST Council is set to hold its next meeting on October 7, with the primary focus on streamlining the tax collection process rather than changing rates. Sources indicate that no new tax rates will be proposed, but the panel is expected to review the current 18% Goods and Services Tax (GST) levied on Merchant Discount Rates (MDR). MDR is the fee banks charge merchants for processing digital payments, and this specific rate has been a point of contention for the industry.
For investors, this meeting is significant as it signals the government's intent to simplify the tax structure. A reduction in the GST rate on MDR could lower the cost of digital transactions, potentially boosting the adoption of digital payments and benefiting the fintech sector. Additionally, process reforms are likely to improve compliance and efficiency within the GST ecosystem.
Investors should watch for any announcements regarding the review of the 18% GST on MDR and any specific process reforms discussed during the meeting. While no immediate rate changes are expected, positive developments in this area could have a favorable impact on the broader financial and technology sectors.
Excerpt from BusinessLine
The GST Council’s October 7 meeting will focus on process reforms and nothing on rate proposal is expected to be taken up, government sources has said. The Council is meeting after a gap of more than a year. “No rate proposal likely and the entire deliberation will be on process,” a highly placed source said. However,…Read the original at BusinessLine
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