GST Council approves faster export refunds for claims below ₹1,000

The measures will improve the liquidity condition of exporters amid the US imposing 50% tariffs on India. The US decision would impact around $48.2 billion of outbound shipments based on 2024 trade values. The GST Council recommended an amendment to the rules to provide for sanction of 90% of refund claimed as provisional refund "on the basis of identification and evaluation of risk by the system", the council said in a statement.