Finance minister announces GST faster refunds starting April 1, 2027
Business
Big changes are coming to GST starting April 1, 2027.
The finance minister has announced new rules to make paying taxes less of a headache: think faster refunds (with 90% processed in just 3 working days) and less paperwork.
Refund acknowledgments will now take only 10 days, so businesses can get their money back much quicker.
GST Council eases registration for sellers
The GST Council is rolling out smoother registration, like automatic approval for simple updates and fewer inspections (only by the officer of the supplier state or the destination state).
Small sellers on e-commerce platforms get an easier way to sign up and expand.
Plus, there's talk of letting businesses claim input tax credits even if their suppliers haven't paid up yet, a proposal that could really help businesses.