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India's Goods and Services Tax (GST) collections closed FY2025-26 on a steady note, with March revenues crossing the ₹2 lakh crore mark, underscoring resilient consumption, strong import activity, and improving compliance even amid global economic uncertainty. Official data show gross GST collections for March 2026 at ₹2,00,064 crore (about $24 billion), marking an 8.8% year-on-year increase from ₹1,83,845 crore a year earlier. Net collections for the month rose 8.2% to ₹1,77,990 crore ($21.4 b ...Read More >
The CBIC has clarified that businesses receiving post-sale discounts via credit notes without tax adjustments don't need to reverse input tax credit (ITC). This circular aims to reduce uncertainty and disputes regarding post-sale discounts under GST. GST will only apply to promotional activities with separate agreements and defined consideration, providing clarity on ITC entitlement and tax liability. Businesses receiving post-sale discounts in the form of financial or commercial credit notes w ...Read More >
New Delhi: The Central Board of Indirect Customs and Taxes (CBIC) has directed its field formations to track price changes for various commodities before and after the goods and services tax (GST) rate rationalisation, effective September 22, 2025. This price tracking will continue for at least six months. In a letter dated September 9, the CBIC instructed field formations to submit a report by the 20th of each month on approximately 54 commodities, including toiletries, consumer durable items ...Read More >
Dehradun (Uttarakhand) [India], July 16 (ANI): Following the tragic road accident in the Muwani area of Pithoragarh district on Tuesday that claimed eight lives, Uttarakhand Chief Minister Pushkar Singh Dhami announced that the state government would provide Rs 2 lakh each to the families of the deceased and Rs 50,000 to the injured. This would be in addition to the ex-gratia of Rs 2 lakh from the Prime Minister's National Relief Fund (PMNRF), announced by Prime Minister Narendra Modi, which wo ...Read More >
New Delhi [India], July 16 (ANI): Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu called on Union Minister for Road Transport and Highways Nitin Gadkari at New Delhi and apprised him of the massive damages caused by flash floods in the state. Upon his visit to Nitin Gadkari on Tuesday, CM Sukhu sought support for the repair and reconstruction of damaged roads. He also urged the inclusion of a few roads under the PM Gati Shakti Yojana. Also Read | Weather Forecast Today, July 16: Check W ...Read More >
Mumbai : Tesla's long awaited India debut finally took place with chief minister Devendra Fadnavis inaugurating its showroom in Mumbai on Tuesday. The Elon Musk-led car maker unveiled its Model Y compact all-electric SUV at its 'Experience Centre' in Bandra-Kurla Complex with the CM describing it as the "right city and the right state" for the launch."Mumbai stands for innovation and sustainability. In 2015, when I went to the US, I had my first ride in a Tesla, and then I thought we need such a ...Read More >
New Delhi [India], July 16 (ANI): Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu called on Union Minister for Road Transport and Highways Nitin Gadkari at New Delhi and apprised him of the massive damages caused by flash floods in the state. Upon his visit to Nitin Gadkari on Tuesday, CM Sukhu sought support for the repair and reconstruction of damaged roads. He also urged the inclusion of a few roads under the PM Gati Shakti Yojana. CM Sukhu also updated the Union Minister about the d ...Read More >
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