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GST Council Approves Time-Bound Registration For MSMEs, Startups That May Cut Wait Time To Three Days

Additionally, the Council has also cleared automated GST refunds for exporters and cases with inverted duty, sources said.

<div class="paragraphs"><p>Finance Minister Sitharaman chairs the 56th meeting of the GST Council. (Image: FinMin/X)</p></div>
Finance Minister Sitharaman chairs the 56th meeting of the GST Council. (Image: FinMin/X)
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The GST Council, in its 56th meeting, approved measures to ease compliance for businesses, NDTV Profit learnt exclusively on Wednesday.

The Council further approved a time-bound GST registration for MSMEs and startups, which could reduce the registration time from the current 30 days to three days, according to sources.

Additionally, the Council has also cleared automated GST refunds for exporters and cases with inverted duty, the persons privy to the development said.

(This is a developing story and will be updated shortly)

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