LatestIncome Tax 9 October 2026
India's GST Reform Enters Third Phase with Refund and ITC Overhaul
The GST Council has rolled out its third phase of tax reform, concentrating on expanding refund mechanisms and widening input tax credit (ITC) eligibility. PwC partner Pratik Jain says the moves aim to simplify compliance and strengthen India's role in global supply chains, signaling a shift toward bolder policy changes and greater ease for businesses.
GST Council launches third reform phase
- Expanding refund rules to speed up cash flow for taxpayers.
- Broadening the scope of input tax credit, allowing more businesses to claim credits.
PwC's Pratik Jain notes these steps are designed to simplify compliance and boost India's competitiveness in global supply chains. For full details, visit the original article.
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