Startup And Fundraising 27 October 2026
GST Overhaul Starts Nov 1, 2026: Refunds, Returns & ITC Rules
From November 1, 2026 India will roll out a phased GST compliance overhaul that changes refund processing, return filing timelines, and Input Tax Credit eligibility. The reforms aim to speed up refunds, simplify filing for small taxpayers and tighten ITC verification, impacting businesses across sectors.
Key updates effective Nov 1, 2026
- Refunds: faster processing with a 30‑day maximum and automatic credit of excess amounts.
- Return filing: new quarterly filing window for small taxpayers; mandatory e‑invoicing for B2B.
- ITC rules: tighter eligibility checks, removal of certain blocked credits and real‑time validation.
For full details see the Business Today article.
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