India Business Review: RBI Repo Rate Hikes to 5.50%, GST Reforms & Defence Exports Peak | Blitz

The week’s most consequential sentence was about a power the State is giving up. On 8 October the 57th GST Council, chaired by Finance Minister Nirmala Sitharaman, recommended omitting section 69 of the Central GST Act, the power of arrest, raising the prosecution threshold five-fold to ₹5 crore of tax, and sanctioning 90% of export…