EY India Chairman Rajiv Memani Seeks Expedited GST Refunds and Expanded Tax Credits

TOI Business•Published: Oct 5, 2026 05:44 AM IST

EY India Chairman and CEO Rajiv Memani has called upon the GST Council to accelerate refund processes and resolve ongoing challenges regarding the accumulation of input tax credits ahead of a crucial meeting. He specifically recommended permitting businesses to claim eligible tax credits on standard corporate expenses such as travel and insurance.

Input Tax Credits: Memani emphasized the need to address credit accumulation bottlenecks specifically impacting services and capital goods sectors.
Corporate Expenses: He suggested expanding eligible credits to include crucial business-related expenditures like employee travel and corporate insurance.
Economic Growth: The EY leader highlighted how recent Goods and Services Tax reforms have positively contributed to India's broader economic expansion.
Investment Projections: Memani separately projected that foreign direct investment flows into India could surpass $100 billion this year.

The Context & Background

The business community has consistently pushed for procedural refinements to the indirect tax framework to alleviate cash flow constraints and improve operational ease. Anticipation builds around the GST Council's upcoming policy decisions as industry leaders advocate for structural tax rationalization.

Why it matters:Streamlining the GST refund mechanism and expanding input tax credits directly enhances corporate liquidity and business confidence in India. Resolving these taxation bottlenecks is vital for sustaining high foreign direct investment inflows and maintaining the country's economic momentum.

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