GST

Gross GST collections rose 14.7 per cent to Rs 2.04 trillion, while net revenue growth accelerated to around 14 per cent in the July-September quarter

Gross GST collections rose 14.7 per cent in September to over Rs 2.03 lakh crore. Gross GST collections from domestic activities rose 10.1 per cent to about Rs 1.38 lakh crore, while revenues from imports were up 26 per cent to Rs 65,525 crore. Goods and Services Tax (GST) refunds, however, slowed to Rs 27,001 crore in September, a decline of 3 per cent year on year. After adjusting for refunds, net GST collections rose 18.1 per cent to over Rs 1.76 lakh crore in September. During the first half of the fiscal (April-September), gross GST collection grew 11.6 per cent to over Rs 12.46 lakh crore. Net collections rose 10.4 per cent to over Rs 10.66 lakh crore.

Audit finds only around ₹110 crore recovered against over ₹2,500 crore in GST demands, while flagging excess input tax credit and gaps in e-way bill monitoring

GST Bachat Utsav gets ₹27.1 crore, half of government's ad spend on 10 key schemes between FY24 and FY26

Rajasthan's State Tax Department detected potential tax liability of ₹22.79 crore at over 25 establishments during its crackdown on suspected GST evasion and fraudulent ITC claims.

India's primary copper producers want GST on a range of copper products cut from 18% to 5%, saying the move could unlock up to $3.6 billion in working capital

Businesses want the GST Council to allow accumulated input tax credit to pay reverse-charge liabilities, saying the cash-payment requirement blocks working capital

The rate rejig exercise also withdrew compensation cess on most products, while retaining it on tobacco products until the outstanding compensation-cess loan and interest liabilities were discharged.

FMCG companies expect consumer sentiment to remain strong during the festive season, though uneven rainfall and inflation from West Asia tensions pose risks to demand.

FMCG companies expect consumer sentiment to remain strong during the festive season, though uneven rainfall and inflation from West Asia tensions pose risks to demand.

FMCG companies expect consumer sentiment to remain strong during the festive season, though uneven rainfall and inflation from West Asia tensions pose risks to demand.

The GST cut improved cement affordability and encouraged a shift towards premium products, though analysts say its direct impact on overall demand volumes remained limited

The two-day conference will discuss GST 2.0, the macroeconomic outlook and financing for agricultural transformation, energy transition and Viksit Bharat

Experts say GST will raise the upfront cost of accepting eligible UPI payments, but registered businesses can offset the tax through input tax credit, subject to applicable rules.

Merchants would have to pay 18 per cent GST on the Merchant Discount Rate (MDR) charges for UPI payments above Rs 2,000, but can claim input tax credit (ITC), thereby easing the overall tax burden, tax experts said on Wednesday. Effective October 15, UPI payments to merchants (P2M) above Rs 2,000 will attract a 0.4 per cent merchant discount rate with an overall cap of Rs 300. Besides, a flat concessional MDR rate of Rs 5 would be applicable on specific merchant categories such as railways, telecom services, insurance, and fuel for transaction above Rs 2,000. The share of P2M UPI transactions above Rs 2,000 has steadily increased from 15.1 per cent in FY23 to 20.1 per cent in the June quarter of FY27, reflecting a sustained shift towards higher-value merchant payments on UPI. Under the proposed framework, the MDR would be borne by the merchants as a charge for payment settlement services. Since the charge is to be borne by merchants for processing and settling digital payment ...

Mobile phone industry body ICEA has written to the government seeking a reduction in GST on mobile phones to 5 per cent from the current 18 per cent amid a decline in domestic demand, especially due to rising memory chip prices. India Cellular and Electronics Association (ICEA) in a letter to Finance Minister Nirmala Sitharaman dated September 2 said India is now the world's second-largest mobile-phone manufacturer by volume, and mobile phones became the country's largest export product in FY 2025-26. The industry body, which represents the majority of mobile phone manufacturers, said domestic demand, however, has not kept pace with manufacturing and exports, as handset consumption has declined, replacement cycles have lengthened and the affordable smartphone segment remains under pressure. "This imbalance will constrain the next phase of manufacturing growth unless India restores momentum in its domestic market. ICEA therefore seeks the Government's intervention to reduce GST on ..

In the latest case, ESNP Property had built commercial properties for leasing and claimed credit for GST paid on construction. The tax department rejected the claim.

The Delhi High Court has ordered that Goods and Services Tax (GST) registration is no longer permissible without biometric-based Aadhaar authentication. A bench of Justices Anil Kshetarpal and Shail Jain passed the order on petitions alleging fraudulent GST registrations using the petitioners' PAN card and Aadhaar card numbers. In the order passed on September 8, the bench observed that earlier, while answering a question on fraudulent GST registration in Parliament, the minister concerned disclosed that in 2023-2024, there were 2,800 fraudulent GST registrations involving Rs 15,085 crore of tax evasion, and that in 20242025, there were 1,654 fraudulent registrations and 13,109 crore of tax evasion were detected. The bench said although it was also disclosed that biometric authentication through Aadhaar would be mandatory for GST registration, the statement had not yet been implemented, which resulted in continuous fake registrations using stolen or frozen PAN/Aadhaar details. Notin

Authority says electricity charges recovered without any markup or profit, including for HVAC and common areas, can be excluded from the value of maintenance services

Businesses are seeking the ability to set off the tax liability of their unit in one state with the unused tax credit available with its arm other states.