Key GST Changes in Brief - Interactive Session on The GST reset - Oct 12, 2026

Описание: #bcic #TheGSTReset #gst #gstupdatesaubsp #gstcouncilmeet #57thGSTCouncilMeeting #indirecttaxes #inputtaxcredit #ITC #gstcompliance #taxation #taxreforms #businessupdates

Key GST Changes in Brief | Interactive Session on “The GST Reset” | October 12, 2026

The Bangalore Chamber of Industry and Commerce (BCIC), under its Indirect Taxes Expert Committee, presents “Key GST Changes in Brief” by Mr. N. R. Badrinath, Chairman, Indirect Taxes Expert Committee, BCIC and Partner, Singhvi Dev & Unni LLP, and Mr. Venkatraman E, Co-Chairman, Indirect Taxes Expert Committee, BCIC and VP – Corporate Tax, Wipro Ltd.

In this session, the speakers discuss the key recommendations of the 57th GST Council Meeting held on October 8, 2026, focusing on the shift from GST rate rationalisation towards improved implementation, simplified compliance, greater transparency, and enhanced certainty for businesses.

Key areas covered include:

Input Tax Credit (ITC) and Refunds: Proposed changes relating to ITC eligibility, correction of returns, smoother refund processes, refunds for input services and capital goods, and measures to improve working capital.

Registration and Return Compliance: Simplification of registration amendments and cancellation procedures, correction of return errors, and improved tracking of ITC reversals and reclaims.

Dispute Resolution and Enforcement: Proposed standard operating procedures for notices and orders, proportional enforcement measures, changes relating to penalties and prosecution, and procedural safeguards.

Exports and Sector-Specific Clarifications: Recommendations concerning international Head Office–Branch Office transactions, SEZ and FTWZ supplies, e-invoicing for reverse charge and import transactions, and other industry-related matters.

Implementation Timelines and Business Preparedness: Key proposed implementation dates, including changes relating to input-service ITC refunds from November 1, 2026, and capital-goods ITC refunds from April 1, 2027, along with the importance of monitoring the relevant legal amendments, rules, notifications and circulars before operationalising the changes.

The discussion highlights the importance of moving towards a more efficient, predictable and trust-based GST administration, with reduced manual intervention, improved compliance processes and greater certainty for businesses.

🔔 Subscribe to the BCIC YouTube Channel for more industry insights, expert discussions, policy updates, leadership conversations, conferences, and knowledge-sharing sessions.

🙏 Thanks & Regards
Team BCIC

🔗 Stay Connected with BCIC

📍 Bangalore Chamber of Industry and Commerce (BCIC)
101, Midford House, 1, Midford Garden Road, Bengaluru – 560001

📧 Contact:
Ms. Roopa Mohan – Assistant Secretary General
✉️ [email protected]

🌐 BCIC Presence:
Branches: Mysore & Dharwad
International Office: Tokyo, Japan
Mediation Centre (with BIMACC)
Start-up & Incubation Centre: MG Road, Bengaluru