Reaffirming Punjab’s strong fiscal performance, Finance, Excise and Taxation Minister Advocate Harpal Singh Cheema announced on Monday that the state recorded a robust 14.59 per cent growth in Goods and Services Tax (GST) collections during May 2026.
The Supreme Court on Wednesday upheld the retrospective levy of 28 per cent GST on online gaming bets, holding that the tax was constitutionally valid and did not violate the constitutional framework governing Goods and Services Tax.
The gross GST collection spiked by 8.7 per cent in April to a record of about Rs 2.43 trillion, government data showed.
The report also identifies key structural challenges constraining India's global competitiveness — fragmented state-led branding, limited global marketing outreach, lack of experience-led packaging, and ease-of-travel barriers including connectivity and visa processes.
The Delhi government moves to reset GST operations with large-scale transfers after inspection highlights discipline issues, long postings and complaints from taxpayers over delays and inefficiencies.
Welcoming the development of GST reforms by the Centre, Karnataka Chief Minister Siddaramaiah, who also holds the Finance portfolio stated: "We welcome the decision of the GST Council to rationalise GST rates, an important step to reduce both the monetary and compliance burden on people and businesses."
I ndia has chosen an unusual weapon to counter an external economic assault: cheaper goods for its own citizens.
Trinamool Congress MP Derek O'Brien on Friday expressed concerns about the impact of cess on federalism, stating that it is "slitting the throat of federalism."
The GST reforms can moderate CPI inflation in the range of 65-75 bps over FY26-27, an SBI report has said, adding that the simpler GST 2.0 system unleashes plethora of benefits in the form of consumption boost primarily from the middle class, low inflation, ease of business and ease of living.
India’s GST reform of 3 September marks a transformative leap in indirect taxation, with a streamlined two-rate structure and bold rate reductions that will directly spur demand and growth.
