The GST Council has reportedly approved major reforms aimed at simplifying compliance for traders, micro, small and medium enterprises (MSMEs), and other businesses. The proposed changes include a significant increase in the prosecution threshold—from ₹1 crore to ₹5 crore—and changes relating to the powers of GST officers, potentially reducing the compliance burden faced by businesses.The reforms are being positioned as part of a broader effort to build trust between the tax administration and the business community. n18oc_breaking-newsn18oc_india CNN-News18 is your trusted source for breaking news, updates, and in-depth analysis from around the world. CNN-News18 is dedicated to bringing you the latest news, trends, and insights, helping you stay informed and up-to-date. Subscribe Now and join our community of informed and engaged viewers. Follow Every Breaking Story LIVE Watch News18 LIVE 24x7: https://youtube.com/live/rfDx1HMvXbQFollow us on Google: news18.co/cn18gFollow CNN News18 on X: https://x.com/CNNnews18Follow CNN News18 on Instagram: https://www.instagram.com/cnnnews18/Follow CNN News18 on Facebook: facebook.com/cnnnews18 with latest headlines on politics, sports and entertainment on news18.comNews18 Mobile App - https://onelink.to/desc-youtube