GST Council To Meet On October 7: Invoice Matching, ITC & UPI MDR Tax In Focus

The GST Council is set to meet on October 7, with process reforms expected to be a key focus. Discussions could centre on simplifying compliance, invoice matching, input tax credit and challenges involving data matching between buyers and sellers. The council may also consider the 18% GST on Merchant Discount Rate (MDR), although UPI MDR is not currently on the official agenda. Business Today’s Karishma Asoodani explains the issues that could come up during the meeting and what the proposed GST process reforms could mean for businesses. The focus comes after the government’s earlier GST rate rationalisation exercise and efforts to simplify compliance