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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchAs of October 7, 2026, GST refunds for accumulated input tax credit on input services and capital goods have not been approved under the proposal reported by Business Standard. The GST Council was expected to discuss separate timelines at its October 8 meeting: input-services relief could begin during the current year if approved, while capital-goods relief could start on April 1, 2027, phased over five years. Those dates are estimates attributed to unnamed sources, not enacted rules.
What refund timelines were reported?
Business Standard reported on October 5, 2026, that the Council was likely to consider expanding refunds for accumulated credit on input services and capital goods on separate schedules. The account attributed the proposed dates to three people familiar with the matter; it did not cite an official agenda or Council decision. The report also said queries to the Finance Ministry and GST Council Secretariat had gone unanswered.
| Credit category | Reported possible start | Approval and legal status | Past or future purchases | Phase-in |
|---|---|---|---|---|
| Input services | During the current year, if approved; the report did not give a specific date. | Council consideration and a legislative change were still pending as of October 7, 2026. | The report does not establish whether credit on past purchases would qualify. | No phase-in period was reported. |
| Capital goods | April 1, 2027, according to the report’s sources. | Council consideration and a legislative change were still pending as of October 7, 2026. | Whether already-purchased capital goods would qualify was an open issue, not a settled rule. | Reportedly spread over five years; final mechanics were not stated. |
These are reported possibilities, not dates businesses can rely on to claim refunds. The Council meeting was scheduled for October 8, 2026, after the reporting cutoff of this article, so its outcome is not established here. Business Standard’s October 5 report is the source for the proposal and estimated schedule.
Why does inverted duty create accumulated credit?
Inverted duty describes a mismatch in which GST on inputs is higher than GST on the finished product. A business can then accumulate input tax credit faster than it can use that credit to offset tax due on sales, leaving funds tied up in its electronic credit ledger.
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Business Standard described the existing position as allowing claims for accumulated credit primarily on inputs or raw materials, while credit on capital goods such as machinery and on input services remained in the electronic credit ledger. That is the report’s account of the general position, not advice about a particular taxpayer’s eligibility.
What legal changes would be needed?
The report says Section 54 of the Central Goods and Services Tax Act governs refunds and that relaxing the restriction would require a legislative amendment, followed by parliamentary and constitutional approval. It does not establish the final wording, approval sequence, notification date, or eligibility conditions for this specific proposal.
Official GST Council material provides general context: some GST amendments have a future notified commencement date. That context does not confirm that this proposal has been approved or establish when it would take effect. See the Council’s Detailed Agenda Note, Volume 1, for the 48th GST Council Meeting, its January GST Council newsletter, and the 45th GST Council Meeting, Volume 2 for historical refund-law and timing context; none confirms the 2026 proposal’s status.
Would previously purchased capital goods be covered?
That remains unresolved. KPMG partner and national head of indirect tax Abhishek Jain said, as quoted by Business Standard: “Industry’s request that capital goods already purchased be covered for the balance of the five-year period is reasonable and deserves serious consideration, as confining relief to future purchases would leave much of that credit stranded,”
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Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →The comment identifies a transition question for any eventual rules; it does not establish that past purchases qualify. Businesses would need to check the enacted amendment and any implementing notifications for the covered purchase dates, documentation requirements, and refund calculation.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Which businesses could be affected?
Business Standard quoted Price Waterhouse partner Nimish Bhatia saying that sectors including FMCG, pharmaceuticals, and footwear face working-capital stress from accumulated input tax credits, among other reasons such as heavy upfront capital expenditure. This describes the sectors and pressures noted by the speaker; it does not quantify the total credit affected or the proposal’s financial impact.
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