What changes will businesses see in GST refunds from November 1?

The new GST refund rules, which will come into effect from November 1, will speed up refunds and simplify compliance for businesses. Excess cash ledger balances will be refunded automatically, while 90% of eligible claims for zero-rated supplies and inverted duty structure will be provisionally refunded. Government has also specified documents required for GST registration to simplify the process.