November 1 Checklist: LPG Prices Up for Review, GST Draft Forms Go Live for Public Comment
New Delhi, October 28: Households and businesses have two things to watch on November 1, 2026. Oil companies will review cooking gas prices, and the Finance Ministry will start rolling out GST compliance reforms.
LPG cylinder prices
Oil marketing companies generally review LPG cylinder prices on the first day of every month, so revised rates could be announced on November 1.
A 14.2-kg domestic cylinder in Delhi costs Rs 942, unchanged since June 7, 2026. Consumers will have to wait for the official announcement to know whether that changes.
The pressure is more likely on commercial cylinders. Crude oil prices are reported near $117 per barrel amid tensions involving Israel and Iran and concerns over possible disruption to shipments through the Strait of Hormuz, so another commercial LPG revision is possible. The final rates will depend on the oil companies’ announcement.
Existing Aadhaar e-KYC norms and cylinder booking rules will stay in place.
GST changes
The government will begin implementing GST compliance reforms that do not need legislative amendments, and the measures will be rolled out gradually.
Draft forms for public comment
The Finance Ministry will put draft GSTR-1, GSTR-1A and Invoice Furnishing Facility (IFF) forms on the myGov portal on November 1 for public consultation until November 30. The revised forms are scheduled to take effect from April 1, 2027.
The aim is to cut mismatch notices. A senior CBIC official said that almost 80% of GST notices are issued because of mismatches in returns. The GST Council approved the draft forms at its 57th meeting on October 8.
Automated refunds
Automated sanctioning of eligible GST refunds is expected to begin after November 1, and it will cover future claims, not accumulated claims already pending. Eligible claims for zero-rated supplies and inverted duty structures could receive 90% provisional refunds through an automated, risk-based process.
Businesses will also be eligible for refunds of accumulated ITC on input services under the inverted duty structure for credit availed on or after November 1, 2026, subject to the applicable legal changes.
Relief for small businesses
The Council has approved late-fee relief for businesses with turnover up to Rs 5 crore, provided delayed returns are filed within the same calendar month.
Bigger changes later
Changes that need amendments to the GST law are targeted for April 1, 2027.
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