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.
He said that on the one hand in pursuance of the vision of PM Narendra Modi, several ministries and state governments are eager to bring more and more sellers on an e-commerce platform but the provision of not allowing sellers without having GST number has become a major deterrent.
A clear message from the Kanpur episode is that the cash economy is alive and kicking. Probably, instead of outlawing cash, the Government should try to integrate the cash economy in the formal economy. Also, Direct and Indirect Tax provisions should be harmonised. That said, ersatz solutions like tinkering with tax rates cannot solve the deep-rooted structural problems of our tax system
In order to remove some of confusion created by differential tax rates and it applications, the Revenue Department has issued a circular directed at all the operative officials giving clarifications regarding applicable GST rates and exemptions on certain services.
The RBI said that given the existing liquidity overhang, absence of a need for additional borrowing for GST compensation.
The 43rd GST Council meeting on May 28, 2021 had decided that the central government would borrow Rs 1.59 lakh crore in 2021-22.
