GST 2.0 & Union Budget 2026 Masterclass

1 – GST 2.0 — COMPLETE REFORM ANALYSIS

Tax Reforms

• Rationalization of GST rate slabs
• New treatment of composite & mixed supplies
• Updated HSN classification architecture
• Impact on exemptions, concessional rates & inverted duty structures
• Reform of valuation rules (including new anti-avoidance corrections)

Non-Tax Reforms

• Major procedural reforms
• New return filing architecture
• Real-time invoice + ITC authenticated workflow
• Improved departmental audit framework
• GST Tribunal (GSTAT) reforms under the new tribunal rules
• Strengthened enforcement mechanisms & dispute redressal systems

2 – CLASSIFICATION CHANGES & THEIR IMPACT

• How GST 2.0 modifies classification for goods & services
• Critical industries: manufacturing, IT/Software, works contracts, hospitality, automotive, construction
• The new era of classification disputes:
  • borderline categories
  • bundled services
  • new definitions under GST 2.0
• Emerging litigation due to rate-changes & re-classification

3 – ITC UTILISATION UNDER GST 2.0

• New rules on ITC availment, reversal, utilization
• Sector-wise impact analysis
• What happens to existing unutilized ITC?
  • Migration to new structure
  • Conditions for carry forward
  • Special transitional rules for old credits
• Treatment of unutilized Compensation Cess credit balance
  • When can it be used?
  • Refund vs lapse — legal position
• Litigation scenarios expected

4 – IMPACT ON CREDIT NOTES

• New rules for issuing, reporting & adjusting credit notes under GST 2.0
• Treatment of post-supply discounts
• Impact of rate-change on credit notes
• Litigation possibilities due to retrospective rate revisions
• Interplay with ITC availability & reversals

5 – UNION BUDGET 2026 — DIRECT IMPACT ON GST

• Key GST announcements & amendments in Budget 2026
• Changes in:
  • rates
  • exemptions
  • procedural rules
  • penalties
  • adjudication framework
  • audit controls
• How Budget 2026 interacts with the GST 2.0 framework
• Legal impact of new budget provisions on litigation & compliance

6 – EMERGING LITIGATION TRENDS (2026–2028)

• Classification disputes post-GST 2.0
• Transitional disputes on unutilised ITC & cess
• Refund-related litigations
• Impact of rate rationalisation on past cases
• Adjudication vs Appellate Authority vs GSTAT trends
• High Court & Supreme Court constitutional review hotspots
• Special risk areas for businesses from 2026 onwards