GST changes from November 1, 2026: Refunds, return filing and ITC rules explained
ITC launched an initiative in a taxation development with November 1 in focus.
· Business Today Mkts
GST compliance reforms are expected to roll out in phases from November 1, 2026, focusing on simpler return filing, faster refunds and improved input tax credit (ITC) reconciliation. While some measures may begin next month, changes requiring legislative amendments are targeted for April 1, 2027.
Key facts
- Dates in focus
- November 1 and April 1
The analysis
Against that, the stock is -1.5% on the day at ₹256.50, and has returned -8.1% over three months. It sits 39% below its 52-week high, which means a good deal of bad news was already in the price. The fmcg sector has moved -10.0% over the same period, so ITC is running 1.9 points ahead of its peers.
This is a Tax / tariff / duty event. Duty and incentive changes reset landed cost and competitive position immediately, and unlike demand shifts they arrive on a known date. On the day the stock is -1.5%, so a modest reaction.
For ITC, the question is how much of this is already reflected in the price and how much re-rates the fmcg peer set alongside it.
Why it matters
- Tax changes flow through to post-tax earnings and can shift the relative appeal of entire asset classes.
- With GST Council involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- In focus: ITC (ITC), in FMCG.
- Over three months: ITC -8.1% against FMCG -10.0% (1.9 points ahead).
- At least 25% below the 52-week high: ITC (39%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| ITCITC · FMCG | ₹256.50 | -1.5% | -3.2% | -8.1% | -39.2% | 0.8× | — |
FMCG
1M -8.0% · 3M -10.0%
ITC
Prices as of 27 Oct 2026, 14:42 IST. Sector moves are the average of the stocks we track in each sector.
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