The Institute of Chartered Accountants of India (ICAI), through its GST & Indirect Taxes Committee, has released the 14th Edition (July 2026) of its “Background Material on GST” in Volume I and Volume II, providing a comprehensive and updated reference on the Goods and Services Tax law and procedures. The publication has been brought out by ICAI, a statutory body established under an Act of Parliament.
The latest edition has been comprehensively revised and updated to incorporate the amendments introduced by the Finance Act, 2026, including the GST 2.0 amendments, along with relevant notifications, circulars, instructions and important judicial pronouncements issued up to 30 June 2026.
The publication assumes significance as the GST regime approaches completion of its first decade and continues to evolve through legislative changes, judicial pronouncements, technological advancements and policy interventions. ICAI has noted that the evolving tax framework makes it increasingly important for professionals, taxpayers and other stakeholders to remain updated for informed decision-making and effective compliance.
According to ICAI, the recent GST 2.0 reforms have introduced a new dimension to the indirect tax framework through rationalisation of tax rates, streamlining of compliance procedures, strengthening of digital processes, operationalisation of the Goods and Services Tax Appellate Tribunal (GSTAT) and various taxpayer-centric measures.
Volume I Covers Core CGST Provisions, Input Tax Credit, Registration, Returns and Refunds
Volume I extensively deals with the Central Goods and Services Tax Act, 2017, covering major areas such as scope of supply, levy and collection of tax, composition levy, exemptions, time and value of supply, input tax credit, registration, tax invoices, returns, payment of tax and refunds.
The Volume gives particular attention to Input Tax Credit provisions under Sections 16 to 21, registration requirements under Sections 22 to 30, tax invoices and credit/debit notes, return filing requirements and refund procedures, making it a practical reference for day-to-day GST compliance.
The updated material also captures recent notification-driven changes. For instance, Notification No. 15/2025-Central Tax dated 17 September 2025 provides an exemption from annual return filing from FY 2024-25 onwards for registered persons whose aggregate turnover in a financial year is up to ₹2 crore.
Further, Notification No. 14/2025-Central Tax dated 17 September 2025, effective from 1 October 2025, prescribes categories of registered persons who would not be allowed provisional refund under Section 54(6), including persons who have not undergone Aadhaar authentication and persons supplying specified goods such as areca nuts, pan masala, tobacco and essential oils.
Volume II Covers IGST, Compensation Cess, Assessment, Appeals, GSTAT and Enforcement
Volume II covers the Integrated Goods and Services Tax Act, 2017, the Union Territory Goods and Services Tax Act, 2017, the Goods and Services Tax (Compensation to States) Act, 2017, and the later chapters of the CGST Act dealing with assessment, audit, inspection, search, seizure, arrest, demands and recovery, advance ruling, appeals, offences and penalties.
GST Compensation Cess Phase-Out Forms Key Part of Updated Material
An important development covered in Volume II is the phased discontinuation of GST Compensation Cess. Notification No. 02/2025-Compensation Cess (Rate), dated 17 September 2025, prescribed a Nil rate for most covered goods with effect from 22 September 2025, while initially retaining cess on tobacco and tobacco-related products.
Subsequently, Notification No. 03/2025-Compensation Cess (Rate), dated 31 December 2025, prescribed a Nil rate for the remaining tobacco and tobacco-related products with effect from 1 February 2026, resulting in Compensation Cess becoming Nil on all goods covered by the principal rate notification.
The statutory period for levy and collection of GST Compensation Cess was separately prescribed up to 31 March 2026 under the Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022.
Strong Focus on GST Appellate Tribunal and Digital Appeals
The revised edition also gives considerable importance to the operational framework of the Goods and Services Tax Appellate Tribunal (GSTAT). Notification No. 13/2025-Central Tax dated 17 September 2025 introduced important procedural changes for electronic filing of appeals before the Tribunal in FORM GST APL-05, along with revised acknowledgement procedures through FORM GST APL-02A.
The same notification also introduced Rule 110A, providing the procedure for certain appeals not involving a question of law to be heard by a single-Member Bench, subject to the prescribed safeguards.
The Finance Act, 2026 has also introduced an interim mechanism relating to the National Appellate Authority for Advance Ruling. Notification No. 2/2026-Central Tax dated 7 May 2026 empowered the Principal Bench of the GST Appellate Tribunal, New Delhi, to hear appeals under Section 101B.
ICAI Positions Publication as Practical GST Reference for Professionals and Taxpayers
ICAI has stated that the Background Material on GST has, over successive editions, evolved into one of the GST & Indirect Taxes Committee’s flagship knowledge resources and a trusted reference for professionals, taxpayers and other stakeholders. The Institute expects the updated edition to serve as an authoritative and practical guide for understanding and applying the evolving GST law.
ICAI President has observed that the 14th Edition incorporates the Finance Act, 2026 amendments, including the GST 2.0 reforms and other significant legislative and procedural developments, and is expected to assist Chartered Accountants, tax professionals, industry and other stakeholders in navigating the changing GST regime with greater clarity and confidence.
The publication has been prepared under the guidance of the GST & Indirect Taxes Committee of ICAI, chaired by as Vice-Chairman, supported by experts and the Committee Secretariat.
About the Publication
The 14th Edition of “Background Material on GST” — Volume I & Volume II — July 2026 provides comprehensive coverage of GST law and procedures, latest amendments and notifications, judicial pronouncements, advance rulings, practical insights and analysis, and has been updated up to the Finance Act, 2026.
Background Material on GST Volume I & Background Material on GST Volume II
