Quick Summary
GST Amendments under Finance Bill 2026: What Businesses Need to Know The Finance Bill, 2026 introduces a series of important amendments to the Central Goods and Services Tax (CGST) Act, 2017 and the Integrated Goods and Services Tax (IGST) Act, 2017, aimed at easing compliance, improving liquidity, and addressing long-standing industry concerns. Unless otherwise specified, these amendments will come into effect from the date to be notified, preferably concurrently with similar amendments passe
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FAQ :
The amendments aim to ease compliance, improve business liquidity, and address long-standing industry concerns.
The requirement for post-sale discounts to be linked to a pre-existing agreement has been removed, offering greater commercial flexibility, provided the recipient reverses their input tax credit.
Provisional refund benefits are extended to inverted duty structures, and the threshold limit for sanctioning refund claims for exporters has been removed, speeding up processing.
An interim appellate mechanism will be authorised to hear appeals until the National Appellate Authority is constituted, preventing a gap in dispute resolution.
The place of supply for intermediary services will now be determined by the recipient's location, potentially benefiting cross-border service providers by treating supplies as exports.
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