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You asked for it, we listened.. and now itโs here!
Introducing GST Insights, now on WhatsApp.
Message us on wa.me/919687502900 to get real-time updates, inside stories, market intelligence on GST, right on your mobile.
E-invoicing for procurements under reverse charge would be applicable from 1st January, 2027.
๐ก Notification 4/2026 - Cental Tax
GSTN has issued an advisory on two new supply types coming into the e-invoicing framework.
E-invoicing mandate in India so far covered only sales - this doesnโt.
๐ Introduction of new supply types for RCM e-invoicing (GSTN's advisory: einv-apisandbox.nic.in/downlโฆ)
๐ก RCMDOM - Recipient generated self-invoices for domestic supplies received from unregistered persons, and
๐ก RCMIMP - Recipient generated self-invoices for import of services
.. where the registered recipient is liable to pay tax under RCM.
The scope, applicability and effective date of the requirement would be governed by the applicable notifications and provisions of GST law.
The amendments to Section 15 and 34 regarding post-sales discount via credit notes and Section 54 extending provisional refund to inverted duty structure will come into effect from 1st November, 2026.
๐ก Amendments in Section 15 and Section 34, CGST Act
Section 15(3)(b) will stand amended so as to omit the requirement of establishing the post-sale discount in terms of an agreement entered into before or at the time of supply and specifically linking of the same with relevant invoices.
Credit notes will be recognised as a valid route for post-sales discount, thereby bridging the gap between valuation provisions and issuance of credit notes.
๐ก Amendments in Section 54, CGST Act
The benefit of provisional refund will be extended to refunds arising out of inverted duty structure.
The minimum threshold limit for sanction of refund claims in case of goods exported out of India with payment of tax is being removed.
Your one-stop destination for real-time updates, inside stories, market intelligence is on GST is also on LinkedIn.
Engage in meaningful discussions on GST updates at linkedin.com/company/gst-insโฆ
See you there!
GSTN has issued an advisory on two new supply types coming into the e-invoicing framework.
E-invoicing mandate in India so far covered only sales - this doesnโt.
๐ Introduction of new supply types for RCM e-invoicing (GSTN's advisory: einv-apisandbox.nic.in/downlโฆ)
๐ก RCMDOM - Recipient generated self-invoices for domestic supplies received from unregistered persons, and
๐ก RCMIMP - Recipient generated self-invoices for import of services
.. where the registered recipient is liable to pay tax under RCM.
The scope, applicability and effective date of the requirement would be governed by the applicable notifications and provisions of GST law.
Self-invoicing under reverse charge will extend to procurement and accounts payable - bringing new stakeholders, workflows and information into the process.
And this leads to a bigger question for businesses evaluating e-invoicing solutions:
โIs this one e-invoicing solution - or multiple solutions packaged as one product?โ
That's the question every company should ask before signing. Almost none do.
The โunified platformโ is a branding decision, not an engineering one.
India shines in weak #IMF world economic outlook, continues to remain resilient and a bright spot in global economy โจ
IMF Growth Forecast 2026:
๐บ๐ธ US: 2.3%
๐ฉ๐ช Germany: 1.3%
๐ซ๐ท France: 0.4%
๐ฎ๐น Italy: 0.8%
๐ช๐ธ Spain: 2.5%
๐ฌ๐ง UK: 1.3%
๐ฏ๐ต Japan:0.7%
๐จ๐ฆ Canada: 1.1%
๐จ๐ณ China:4.5%
๐ฎ๐ณ India: 7.0%
๐ท๐บ Russia:0.9%
๐ง๐ท Brazil: 2.2%
๐ฒ๐ฝ Mexico: 1.5%
๐ธ๐ฆ Saudi Arabia: -3.3%
๐ณ๐ฌ Nigeria: 4.2%
๐ฟ๐ฆ South Africa: 1.0%
imf.org/en/publications/weo/โฆ
Recommendations of the 57th Meeting of the GST Council
#NextGenGST From Reset to Reforms!
Indiaโs GST framework has evolved beyond standardizing tax collection - it is now architecting the nation's economic backbone.
As we enter the Next-Gen phase of GST, the focus has decisively shifted from establishing a national baseline to optimizing the ease of doing business. We are witnessing a maturing system where cooperative federalism meets taxpayer-centric reform.
This next phase of growth is defined by three core shifts in regulatory philosophy:
๐ก From compliance to enablement: Moving beyond basic enforcement to actively eliminate administrative friction.
๐กWorking capital as a priority: Fostering a predictable tax environment, driven by seamless input tax credits and expedited refunds, to fuel business agility and localized investment.
๐กThe virtuous cycle of relief: Rationalizing rates to boost household purchasing power, which organically sustains enterprise demand across all sectors.
When compliance becomes intuitive rather than burdensome, businesses can redirect their resources toward what truly matters: scaling, innovating, and driving employment.
Download the PDF from linkedin.com/company/gst-insโฆ
With inputs from @TimsyJaipuria / @TheNewsconomy
#GSTupdates #TaxTalks โจ#GSTCouncilMeeting
Recommendations of the 56th Meeting of the GST Council
โจ #NextGenGST These aren't just reforms - itโs a reset
GST 2.0 is here!
From 4 tiers to just 2 rates - 5% & 18% - plus a higher deโmerit rate for select goods.
Now with tax exemptions on all life & health insurance, essential food items, and streamlined trade processes.
โ
Faster refunds โ 90% provisional refund for exports & inverted duty cases
โ
Refunds allowed even for low-value export consignments
โ
Simplified GST registration in just 3 days for low-risk small businesses (96% of new applicants covered!)
โ
Easy registration for small e-commerce sellers across states
โ
Clearer rules on post-sale discounts & intermediary services
From inclusive financial products to smoother business operations, Indiaโs tax system is getting leaner, fairer, and more citizen-centric.
Press release: lnkd.in/d53ZcrWm
I welcome the new round of GST reforms approved by the GST Council.
The Councilโs recommendations on removal of arrest provisions, greater decriminalisation and simpler procedures will have a very positive impact.
The focus is clear:
Faster decisions.
Lower compliance costs.
Automated refunds.
Trust-based administration.
These are in line with our constant efforts to make GST more efficient, transparent and citizen-friendly.
GST Council meeting has been rescheduled to 8 October.
#GSTCouncilMeeting
57th GST Council Meeting has been rescheduled to 7 Oct, as the earlier scheduled date of Sept 12 clashes with the #BRICS Summit on Sept 12โ13 in New Delhi. GST registration simplification for large businesses is on the agenda.
The meeting will be preceded by an officersโ meeting on 5โ6 October, according to an office memorandum circulated by the GST Council Secretariat.
#GSTCouncilMeeting #GSTCouncil
From tax and finance to business and the economy, youโve seen @TimsyJaipuria bring you some of the biggest updates, cover the stories that matter and ask the questions that count.
Now, sheโs bringing that same curiosity and sharp perspective to a new destination @TheNewsconomy.
Lets show some love, follow her journey and give The Newsconomy a warm welcome!
instagram.com/newsconomy.in
youtube.com/@newsconomywithtโฆ
facebook.com/profile.php?id=โฆ
๐จ BIG GST DECISIONS ON THE CARDS?
Watch this video to find out what's on the agenda of 57th GST Council on October 7 ๐
youtube.com/shorts/7UZssZtm3โฆ
#GST #GSTCouncil #GSTCouncilMeeting #GST2026 #GSTNews #TaxNews #ITC #EaseOfDoingBusiness @TheNewsconomy @theicai @icsi_cs @ICMAICMA
GSTN has introduced multi-state registration module for the taxpayers operating in multiple jurisdictions.
The module is likely to facilitate simultaneous registrations in multiple states through a common application.
You asked. CBDT listened. ๐
The ITR deadline for tax-audit cases under AY 2026-27 has been extended:
๐ Tax Audit Report: 30 Sep โ 21 Oct 2026
๐ ITR: 31 Oct โ 21 Nov 2026
Applicable to taxpayers whose accounts are required to be audited - not all ITR filers.
#CBDT
CBIC on UPI Merchant Discount Rate (MDR)
๐ก GST will apply on 0.4% MDR for eligible UPI Person-to-Merchant transactions above โน2,000.
๐ก GST would be levid at 18% on MDR, not on the underlying transaction value.
๐ก Like MDR, merchants are expected to bear the GST and can claim ITC for the tax paid.
#UPI #DigitalPayments #MDR
@Shrimichoudhary
57th GST Council Meeting has been rescheduled to 7 Oct, as the earlier scheduled date of Sept 12 clashes with the #BRICS Summit on Sept 12โ13 in New Delhi. GST registration simplification for large businesses is on the agenda.
The meeting will be preceded by an officersโ meeting on 5โ6 October, according to an office memorandum circulated by the GST Council Secretariat.
#GSTCouncilMeeting #GSTCouncil
GST Insights ๐ฎ๐ณ retweeted
Warm greetings to the Chartered Accountant fraternity on Chartered Accountantsโ Day.
Chartered Accountants play an indispensable role in shaping Indiaโs economic progress. With the highest standards of integrity and professionalism they promote accountability, strengthen institutions and help businesses thrive.
On this occasion, I look forward to sharing my thoughts at the 78th Chartered Accountantsโ Day celebrations at Vigyan Bhawan at 6 PM today as we celebrate the spirit of excellence and service that defines the profession.