The GST Council, meeting Thursday, will seek to slash the refund period to around 17 days, which will include a maximum 10 days for acknowledgement, beyond which it will be deemed to have been acknowledged, and seven days for processing, as per a Times of India report.
Currently, acknowledgement itself can take 21-45 days and the idea is to process refunds faster, officials said Tuesday. Currently, around 90% of the refunds are processed quickly.
