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Business News›News›India›GST Council meeting rescheduled to October 7 due to BRICS summit

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GST Council meeting rescheduled to October 7 due to BRICS summit
Synopsis

The GST Council meeting has been rescheduled to October 7 due to the BRICS summit. This meeting will occur after a gap of over a year for the council. Discussions will focus on simplifying GST registration for businesses passing tax credits. Automation and changes in GST registration cancellation are also on the agenda. The council previously approved a simplified scheme for small and low-risk businesses.

Agencies

New DelhiL The GST Council meeting, originally scheduled for September 12, has been postponed to October 7 on account of the BRICS summit.



India is hosting the annual BRICS summit in New Delhi on September 12 and 13, which is expected to deliberate on a number of pressing global challenges, including the economic consequences of the West Asia crisis.



BRICS, originally comprising Brazil, Russia, India, China, and South Africa, expanded in 2024 to include Egypt, Ethiopia, Iran, and the United Arab Emirates, with Indonesia joining in 2025.

Effective September 22, 2025, GST became a two-tier structure of 5 and 18 per cent, and a highest 40 per cent rate only for ultra luxury and sin goods, replacing the four slabs of 5,12, 18 and 28 per cent which was in place since July 1, 2017.



At its 57th meeting on October 7, 2026, the GST Council is likely to discuss simplification in GST registration of businesses that pass on tax credit of over Rs 2.5 lakh a month.



Also, automation and other changes in GST registration cancellation is also expected to be taken up by the council.



Currently, there is no uniformity in the procedure followed by the central GST formation and various state formations in granting GST registration to large businesses who pass on credit over Rs 2.5 lakh/month and this creates uncertainty in the minds of taxpayers.



The GST Council in its September 2025 meeting had already approved a simplified GST registration scheme for small and low-risk biz and the same was rolled out from November 1.



Small and low-risk businesses applicants whom the GST system identifies based on data analysis, or those applicants who self-assess that their output tax liability does not exceed Rs 2.5 lakh per month (inclusive of CGST, SGST/UTGST and IGST) can opt for the scheme.



About 1.68 crore businesses are currently registered under GST.

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GST Council meetingBRICS summitGST registration changesGoods and Services Taxtax creditsmall business GST registrationGST rate restructuringSitharamanOctober 7New Delhi

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