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.
The government has notified the mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover of over Rs 100 crore with effect from January 1, 2021.
GSTN is planning more features in this tool such as facility to import invoices from communication facility to GSTR 1, a statement said.
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that such consultations with assessee, prior to issuance of show-cause notice (SCN) in case of demands of duty is above Rs 50 lakh (except for preventive/offence related SCNs), is mandatory and shall be done by the SCN-issuing authority.
Jharkhand, the only remaining state, has now communicated its acceptance of Option-1 given by the Centre.
In addition, the report highlighted that yearly SBI Composite Index has now reached 19-month high of 53.9 in November compared to 53 in October'20, and 50.8 in November'19.
