57th GST Council meeting recommends process reforms
The Council met at Bharat Mandapam, New Delhi, chaired by the Union Finance Minister, its first meeting since the GST 2.0 rate overhaul of September 2025.
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The Council met at Bharat Mandapam, New Delhi, chaired by the Union Finance Minister, its first meeting since the GST 2.0 rate overhaul of September 2025.
The tax audit report is now due on 21 October 2026 (earlier 30 September), and returns of audited taxpayers on 21 November 2026 (earlier 31 October). Given effect by CBDT Circular No. 07/2026.
The new Act replaced the 1961 Act from 1 April 2026, with the Income-tax Rules, 2026 notified on 20 March. “Tax Year” replaces previous year and assessment year. Returns for FY 2025-26 remain under the old Act.
Under the new Rules, forms 3CA, 3CB and 3CD are consolidated into a single Form 26 for Tax Year 2026-27 onwards. Older years keep the old forms.
The GST portal no longer accepts returns filed after three years from their due date. Pending GSTR-1, GSTR-3B and annual returns should be cleared before they time out.
Most goods and services moved to 5% and 18%, with a special 40% rate for a limited set of demerit and luxury goods replacing the 28% slab plus cess.
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With AGMs held by 30 September 2026, AOC-4 falls due by 30 October and MGT-7 by 29 November. OPCs file AOC-4 within 180 days of year end. Filing is on the MCA V3 portal.
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