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FM Sitharaman Unveils Next-Gen GST Reforms Ahead of Crucial Council Meet
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CNBC TV18•05-10-2026, 11:13
FM Sitharaman Unveils Next-Gen GST Reforms Ahead of Crucial Council Meet
- •Finance Minister Nirmala Sitharaman outlined the next phase of Goods and Services Tax (GST) reforms, focusing on registration, returns, refunds, dispute resolution, and input tax credit flow to reduce compliance costs.
- •Gross GST collections surged 11.6% year-on-year to ’12.46 lakh crore from April-September 2026, with reported taxable supplies growing 25.8% between October 2025 and July 2026.
- •The Next-Gen GST aims to simplify compliance and rationalize rates, with rate changes effective September 22, 2025, and process reforms soon to be presented to the GST Council.
- •Reported taxable supplies expanded across all 11 sector groups and major States, with B2C sales rising 26.7%, indicating broad economic growth and consumer relief.
- •GST registrations increased by nearly 15% to 1.71 crore by August, and GSTR-3B returns filed on time were 12.6% higher, reflecting increased participation and compliance.
Key Questions Answered
The proposed process reforms focus on areas including registration, returns, refunds, dispute resolution, and the flow of input tax credit to reduce compliance time and cost for taxpayers.
Gross GST collections rose by 11.6% year-on-year to reach ₹12.46 lakh crore during the April–September 2026 period.
The GST rate rationalisation measures took effect on September 22, 2025.
