Summary
The government has brought sections 153 to 155 of the amended CGST law into force from 1 November 2026. Discounts given after a sale can now be kept out of the taxable value if the supplier issues a credit note and the buyer reverses the matching input tax credit, without needing a prior agreement. Businesses with an inverted duty structure can get 90% of eligible refunds provisionally within seven days, and the Rs 1,000 minimum for refunds on goods exported with payment of tax has been removed.
What it means for you
Suppliers giving year-end or volume discounts should issue proper credit notes and tell buyers to reverse ITC, and exporters and inverted-duty businesses can expect faster refunds.
This summary is general information, not legal advice. The outcome of any case depends on its facts; read the source and take advice before acting.
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