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No GST rate cuts at October 8 Council meet; GST 2.0 next phase targets faster refunds, easier ITC

The next GST 2.0 phase, ahead of the GST Council meeting, proposes acknowledging refund applications within 10 days and validating input tax credit through invoice matching. It also targets simpler compliance and wider e-commerce seller access, phased through 2027.

Newer report , , Financial Express : GST Council clears process reforms from 1 April 2027, lifting the prosecution threshold to Rs 5 crore

More on GST Council

  1. GST Council keeps rates unchanged, cuts refund acknowledgement to 10 days; plant and machinery refunds from April 2027, , NDTV Profit
  2. GST Council recommends lifting ITC block on employee health, life insurance; hotel rooms up to ₹7,500 a night when resold, , BL

07:30 IST · 10 moves · what each means · free

The numbers

Figures from Times Now Business,

Eligible refunds released after risk-based checks: around 90 per cent
Registrations auto-approved within three working days: around 61 per cent
Annual rate revision review starts: April 1

Why it matters to operators and investors

With no rate change on October 8 there is nothing to reprice, so spend the effort on supplier invoice matching and filing hygiene, because invoice-matched ITC and 10-day refund acknowledgements will reward clean books with faster working-capital release.

The source

Source Read the source at Times Now Business

Published

Confirmed by Business Today, Deccan Herald Business

First seen

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