{
  "id": 12878388,
  "title": "No rate cuts, but big GST relief: 8 major reforms",
  "url": "https://urgent.news/2026/10/08/no-rate-cuts-but-big-gst-relief-8-major-reforms",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T12:58:38.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/news/economy/policy/gst-council-2026-8-key-reforms-on-registration-refunds-itc-and-enforcement/articleshow/134789303.cms"
  },
  "original_language": "en",
  "account": "The 57th GST Council meeting approved a series of reforms aimed at streamlining the indirect tax system for businesses and taxpayers. While no GST rates were changed, the Council introduced significant improvements to registration, refunds, input tax credit, and enforcement processes. For low-risk applicants, GST registration is now granted within three working days without officer intervention, with amendments to registrations automatically accepted. GST refunds will be processed 90% of the time automatically, with the deadline for acknowledgement reduced to 10 days. Businesses with a turnover of up to Rs 5 crore can file a single annual return while paying taxes quarterly. Enforcement methods have shifted from deterrence to detection, with the power of arrest removed and the prosecution threshold raised to Rs 5 crore. Input tax credit is now available for health and life insurance, telecommunication towers, pipelines outside factories, and certain stock written off after expiry.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Economic Times - Economy",
        "title": "GST winners 2026: No rate cuts, but small businesses, exporters and taxpayers have plenty to gain. Here's how",
        "url": "https://urgent.news/2026/10/08/gst-winners-2026-no-rate-cuts-but-small-businesses-exporters-and",
        "published": "2026-10-08T12:50:29.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}