GST

Fino is the first and the only payments bank so far to apply for conversion into an SFB

Fino Payments Bank says its MD Rishi Gupta and the bank had no role in alleged GST violations linked to programme managers; Finance Minister Nirmala Sitharaman says she will review the issue

Pharmaceuticals firm Lupin Ltd on Wednesday said Maharashtra GST Department has initiated inspection and search at its registered office in Mumbai. The inspection and search by the department seeking documents related to payment of GST and claim of input tax credit etc started at 11.50 am on February 25, 2026, Lupin said in a regulatory filing. The company is extending its cooperation with the officials and providing necessary information and documents, it added. The initiation of this inspection and search doesn't have any impact on the company's financials, operations or other activities, Lupin said.

Court rules Section 122(1A) of the CGST Act cannot be invoked against employees who are not taxable persons; bars retrospective application of the provision

Tax experts said the judgment reiterates that refund claims cannot be denied merely because the principal input and output supplies are the same- a ground frequently used by tax authorities

Court rules GST order issued through portal with system-generated reference number remains valid even if physical copy does not carry Document Identification Number

The Bombay High Court has stayed recovery proceedings in a ₹170 crore GST dispute against Gateway Terminals over denial of input tax credit on licence fees paid to JNPT

Gross GST collections rose 6.2 per cent to over Rs 1.93 lakh crore in January, mainly on higher revenues from imports, sources said on Sunday. Total refunds declined 3.1 per cent to Rs 22,665 crore. Net Goods and Services Tax (GST) revenues, however, grew 7.6 per cent to about Rs 1.71 lakh crore in January. Cess collection (from tobacco products) in January stood at Rs 5,768 crore. This compares to Rs 13,009 crore in collections in January last year when a cess was levied on luxury, sin and demerit goods such as cars, and tobacco products. Effective September 22, 2025, GST rates on about 375 items were slashed, making goods cheaper. Also, a compensation cess is levied only on tobacco and related products, as opposed to luxury, sin and demerit goods earlier. The lowering of GST rates has impacted revenue collections. Gross tax collections from domestic transactions grew 4.8 per cent to Rs 1.41 lakh crore, while import revenues were up 10.1 per cent to Rs 52,253 crore in January.

Dabur expects high single-digit growth next year led by volume recovery on GST tailwinds, while continuing selective price hikes in inflation-hit categories

Think tank flags tax disadvantage for formal facilities, urges parity with informal sector

The Budget should consider moving to a residence-based tax regime, exempting foreign investors from long-term capital gains tax

With many income tax incentives already expired or approaching sunset, 34% of respondents said they expected the government to bring back a manufacturing-linked lower tax rate regime

In a relief for taxpayers, the GST Appellate Tribunal has asked registries to take a lenient view on procedural defects in appeals during the initial six months

Apex body MRAI warns current GST regime hurting formalisation; demands removal of aluminium scrap duty

IT firms, RIL slow profit growth; banks biggest laggards in revenue

Industry confidence rose to a five-quarter high in the December quarter of FY26, supported by steady domestic demand

India Ratings expects bank credit to grow 13 per cent in FY27, supported by GST rationalisation, lower inflation and improved consumption, though high loan-deposit ratios remain a challenge

The report suggests that growth in aggregate revenue receipts slowed to 7.2 per cent year-on-year during April-November 2025

The Federation of Associations of Cottage and Small Industries (FACSI) has urged the Centre for tax, credit and regulatory relief measures for micro and small enterprises in the 2026-27 Union Budget, to sustain growth and strengthen their role in the industrial ecosystem. In a recent pre-budget letter to Finance Minister Nirmala Sitharaman, FACSI president H K Guha said the recommendations were framed after consultations with various associations of entrepreneurs and MSE groups across the country. Among the key demands, the industry body has sought the constitution of an exclusive council for small and micro enterprises under the Ministry of MSME, a higher exemption threshold under the GST regime and a single, simplified GST return for small units. FACSI has also called for statutory collateral-free lending of up to Rs 1 crore for MSEs at an interest cap of 6-7 per cent, along with interest subvention during periods of financial stress, and automatic renewal of working capital limit

The state government on Saturday urged the Centre to address Karnataka's "shrinking fiscal space" in the Union Budget 2026-27, stating that the state is under mounting pressure due to GST changes, rising social commitments and rapid urbanisation. Karnataka Revenue Minister Krishna Byre Gowda, on behalf of the state government, handed over a representation to Union Finance Minister Nirmala Sitharaman at the Union Pre-Budget Meeting for 2026-27 in Delhi today. In a release issued by the Chief Minister's Office, Gowda said, "Karnataka is a major contributor to national growth, but is facing shrinking fiscal space amid GST changes, rising social commitments, climate shocks, and rapid urbanisation. States' responsibilities have expanded faster than their revenues, necessitating corrective fiscal measures in Budget 2026-27." The minister also flagged the fiscal and employment impact of replacing the demand-driven Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) with the ..