Quick Summary
The 56th meeting of the GST Council was held in New Delhi under the chairpersonship of the Union Finance Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council inter-alia made the recommendations relating to changes in GST tax rates, provide relief to individuals, common man, aspirational middle class and measures for facilitation of trade in GST. The GST Council has approved a significant change to streamline refund processing for exporters and SEZ suppliers by recommending an am
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 011-411-70713
FAQ :
The new system for provisional refunds on zero-rated supplies will be operationalised from 1st November 2025.
Eligible claimants will receive 90% of their refund claims on account of zero-rated supplies provisionally.
This reform is designed to benefit exporters and suppliers to Special Economic Zone (SEZ) developers and units.
Refunds will be sanctioned based on risk identification and evaluation by an automated system.
Yes, in cases of high risk, a proper officer may withhold provisional sanction and conduct detailed scrutiny, with reasons recorded in writing.
The key benefits include faster access to working capital for exporters and SEZ suppliers, a boost to the ease of doing business, and encouragement to exports through a streamlined process.
CAclubindia
