- The Indian Finance Ministry notified new GST Settlement of Funds Rules, 2026 to improve IGST settlement between the Centre and States.
- The rules create a structured framework and SOP to manage abnormal Input Tax Credit (ITC) reversals that disrupt settlements.
- They align ineligible and time-barred credits with the GSTR-3B format and merge certain monthly reporting categories.
- Standardised monthly electronic reporting through GST STL forms is introduced to improve transparency, accuracy, and timely revenue distribution.
Source: a2ztaxcorp.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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