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Finance Bill 2026 - GST Highlights

Saurabh Jain
GST changes in Finance Bill 2026: relaxed post-sales discount rules, provisional refunds extended, export and POS reforms. Finance Bill 2026 relaxes post-sales discount formalities by removing the mandatory invoice linkage and agreement requirement, allowing easier issuance of credit notes and downstream tax adjustments. It statutorily enables provisional refunds up to 90% for inverted duty structure claims, extending faster liquidity to claimants. The export with payment regime drops the minimum refund threshold, permitting small-value exports to claim refunds. Place of supply for intermediary services is shifted to the recipient's location, enabling many domestic intermediaries to qualify as exports of service for benefits. Pending constitution, existing authorities and the tribunal are authorised to act as the national appellate body for advance ruling appeals, preserving appellate continuity. (AI Summary)

Finance Bill 2026 - GST Highlights:

1. Post-sales discount conditions relaxed:
(a) Credit Note linking with invoice no more required 
(b) Linking of discount with an agreement done away with

2. Provisional Refund:
Provisional Refund upto 90% extended for Inverted Duty Structure Refunds also by way of Statutory enablement in Act now.

3. Export with Payment of Tax:
In case of Export with Payment of tax, no minimum threshold of Rs. 1,000/- is now applicable, empowering small exports (mainly through courier etc.) to claim refund.

4. POS for Intermediary Services Amended
For Indermediary Services, Place of supply shifted from location of Supplier to location of recipient, empowering various indermediaries in India to claim Export benefits.

5. National Appellate Authority for Advance Ruling

Existing Authority including Tribunal empowered to Act as National Appellate Authority for Advance Ruling appeals, pending its constitution

Regards
CA Saurabh Jain
(FCA, L.LB)
E: [email protected]

Goods and Services Tax - GST
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