Finance Bill, 2026 introduces major GST changes impacting discounts, credit notes, refunds, intermediary services and advance rulings. Here are the 5 most important changes every business must understand.
📌 Why This Article Matters for Businesses
Most businesses do not read clauses or sections.
They ask one simple question:
“How does Finance Bill 2026 affect my GST compliance and cash flow?”
This article answers exactly that — without legal overload.
✅ Change #1: Post-Sale Discounts Finally Simplified (Section 15)
What changed?
Businesses can now give post-sale discounts without prior agreements, provided a GST credit note is issued and ITC is reversed by the recipient.
Who benefits most?
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Manufacturers
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FMCG & pharma companies
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Dealers & distributors
👉 Earlier article: GST Discount Rules Changed in 2026
✅ Change #2: Credit Notes Clearly Allowed for Discounts (Section 34)
What changed?
Section 34 now expressly allows credit notes for post-supply discounts linked to Section 15(3)(b).
Business impact
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Reduced litigation
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Better alignment with commercial practices
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Clear audit trail
👉 Earlier article: GST Credit Notes Simplified in 2026
✅ Change #3: Big Refund Relief for Exporters & Inverted Duty Cases (Section 54)
Two major reliefs introduced:
1️⃣ 90% provisional refund now available even for inverted duty ITC
2️⃣ Refund below ₹1,000 allowed for exports with payment of tax
Business impact
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Faster cash flow
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Reduced working capital blockage
👉 Earlier article: GST Refund Rules Relaxed in 2026
✅ Change #4: Intermediary Services GST Finally Corrected (IGST Section 13)
What changed?
Intermediary services are removed from Section 13(8).
Result
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Place of supply shifts to location of recipient
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Many intermediary services may now qualify as export of services
High impact sectors
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Agents, brokers
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Overseas sourcing & marketing services
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Commission-based arrangements
👉 Earlier article: Intermediary Services GST Changed in 2026
✅ Change #5: Advance Ruling Appeals Revived (Section 101A)
What changed?
A temporary appellate mechanism is introduced till the National Appellate Authority is constituted.
Why this matters
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Conflicting advance rulings can now be appealed
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Restores certainty for multi-State businesses
👉 Earlier article: Advance Ruling Appeals under GST – Finance Bill 2026
🧠 Who Should Pay Immediate Attention?
This Finance Bill is especially relevant for:
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Manufacturers & traders
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Exporters & MSMEs
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Commission agents & intermediaries
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Businesses issuing discounts / incentives
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Companies facing GST disputes
If GST affects your pricing, refunds, or contracts, these changes are not optional reading.
📋 What Businesses Should Do Now (Quick Checklist)
✔ Review discount & credit note policies
✔ Re-evaluate intermediary contracts
✔ Identify refund eligibility improvements
✔ Track advance ruling exposure
✔ Update GST compliance SOPs
Early alignment = less litigation later.
🏁 Conclusion
The Finance Bill, 2026 is not just a technical amendment — it is a course correction in GST law.
By aligning GST provisions with commercial reality, the Government has reduced long-standing disputes and improved compliance clarity. Businesses that proactively adapt will benefit the most.
If your business is impacted by any of the above changes, it is advisable to review your GST position holistically under Finance Bill, 2026 to avoid future disputes and cash-flow issues.
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