GST Compliance Reforms: Refunds, Import-Tax Parity and States’ Revenue Concerns
At its meeting on October 8, 2026, the GST Council announced process reforms covering registration, refunds, input tax credit and litigation, without changing GST rates. Most changes are expected from April 1, 2027, but implementation requires attention to specific effective dates and legal changes; States have sought safeguards against revenue losses. Separately, the government clarified that specified precious-metal imports by banks and nominated agencies attract IGST following the discontinuation of their exemption.







