Businesses may eventually have to file returns largely based on invoices uploaded by suppliers, with limited scope for manual changes.
Domestic passenger vehicle dispatches in India surged by 27.3 per cent year-on-year to a record 4,38,854 units in May, driven by reduced GST rates and easier financing, according to the Society of Indian Automobile Manufacturers (SIAM).
Despite the Centre's GST 2.0 guidelines aiming to facilitate provisional refunds within seven days for low-risk cases, many large taxpayers are still encountering significant delays in obtaining Goods and Services Tax (GST) refunds under the inverted duty structure (IDS), with experts citing inconsistent state-level scrutiny and subjective interpretations.
India's gross GST collections increased by 3.2 per cent to over Rs 1.94 lakh crore in May, driven by improved supplies of goods and services and a continued expansion in collections from imports.
The Delhi Police's Economic Offences Wing (EOW) has dismantled a GST fraud cartel, arresting six individuals involved in swindling Rs 128 crore through shell companies and fake invoicing.
Delhi Police's Economic Offences Wing has arrested two individuals, including a chartered accountant, in connection with a GST and VAT fraud involving the misuse of business credentials and dummy firms.
Police in Pilibhit, Uttar Pradesh, have uncovered a GST fraud involving the misuse of a GST ID to misappropriate approximately Rs 7 crore. The investigation revealed 13 fake firms allegedly used to generate bogus bills.
India's gross Goods and Services Tax (GST) collection reached an unprecedented Rs 2.43 lakh crore in April, marking an 8.7 per cent increase and surpassing the previous record set last year.
Kapil Chugh, accused of masterminding a Rs 1,825 crore GST refund fraud, has been arrested by DGGI officers upon his return from Dubai. He is alleged to have evaded investigation and is wanted in other economic criminal cases.
India's like-for-like gross Goods and Services Tax (GST) revenue growth slowed to a five-year low of 5.57 per cent in FY26, reaching Rs 23.32 trillion, primarily driven by a significant surge in import revenues.
The Commercial Taxes Department has arrested Mohammed Tauqeer for his involvement in generating and routing fraudulent ITC across multiple states, unearthing a GST fraud worth Rs 410 crore.
Non-resident Indians (NRIs) in the Gulf region are increasingly purchasing term life insurance policies from India, driven by geopolitical uncertainties in West Asia and the significant cost advantages offered by Indian products, with the GCC region now contributing over half of the total NRI demand.
Police in Lucknow busted a gang that misused the Mudra loan scheme to create fake GST firms and commit input tax credit fraud worth approximately Rs 1.3 crore.
Meerut police have uncovered a Goods and Services Tax (GST) fraud involving crores of rupees, leading to the arrest of one individual. The investigation revealed a network of fake firms used to illegally claim input tax credits, causing significant losses to the government.
India's passenger vehicle (PV) industry is projected to experience moderated growth in FY27, following a strong rebound in H2FY26, primarily due to the high base effect, absorbed pent-up demand, and the lingering impact of geopolitical tensions in West Asia.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
The Maharashtra cabinet's sub-committee on infrastructure has approved a Rs 1,722.40 crore project for a 3.55-km road connecting the Bandra Fort end of the Versova-Bandra Sea Link with the Savarkar Sea Bridge. This project, implemented by MSRDC, aims to significantly reduce travel time between Worli, Fort, and Versova, handling approximately 3,500 cars per hour. It also includes provisions for rehabilitation and environmental mitigation.
Indian insurance companies are bracing for reduced profitability in Q4FY26, primarily due to the rationalisation of GST on retail life and health policies, leading to a loss of input tax credit, coupled with volatility in equity markets impacting investment income.
Maruti Suzuki Chairman R C Bhargava is pushing for increased government incentives for biogas-powered vehicles over hybrids, emphasising their net-zero carbon emissions and the valuable organic manure they produce, while also advocating for continued GST benefits for electric vehicles.
India's GST revenues experienced significant growth in March, reaching pre-tax cut levels, driven by increased imports and domestic sales. The report analyses the impact of tax rate changes and provides insights into future trends and economic stability.
ICICI Bank has received a demand notice of 768.6 crore from tax authorities for alleged short payment of GST, related to services provided to customers maintaining minimum balances.
The Indian government is set to accelerate reforms, including measures to enhance foreign direct investment, speed up divestment, and boost asset monetisation, to maintain economic growth despite rising fuel and fertiliser import costs driven by the West Asia crisis.
Uttarakhand GST officials conducted an elaborate undercover operation, creating fake firms to expose a company evading over Rs 150 crore in taxes.
'There has to be a safe harbour for licensed entities, which have followed all the norms prescribed by the RBI.'
CGST Gurugram busts a large-scale fake GST registration racket operating in North Delhi, involving fraudulent invoices and ITC availment.
The Uttar Pradesh STF has arrested a man in connection with a Goods and Services Tax (GST) fraud estimated at Rs 15,000 crore. The accused allegedly used fraudulently obtained GST registrations to create fake firms and generate bogus invoices.
Election-related freebies and populist measures are other factors crimping the revenue profile of these states.
India's gross GST collection increased by 8.1 per cent to over Rs 1.83 lakh crore in February, driven by higher import revenues and improved domestic sales. Despite some states reporting negative or below-average growth, experts see the overall trend as a sign of a maturing tax ecosystem and a confident domestic market.
A man in Mumbai has been booked for allegedly cheating a woman of 7 crore by making false promises of financial assistance and business loans after her husband's death. The accused, Bharat Singh alias Johnny, allegedly obtained the woman's GST login credentials and carried out fake transactions in her company's name.
A deputy commissioner of state tax (GST) and a private individual were arrested for allegedly seeking and accepting a bribe of Rs 20 lakh in Nashik, Maharashtra. An assistant commissioner is also wanted in connection with the case.
The Delhi government has announced a comprehensive audit of the Narela and Bawana industrial areas, covering the period from 2011-12 to 2025-26. The audit, initiated by the DSIIDC, aims to identify financial irregularities, fund diversions, and their financial impact within these public-private partnership projects.
The remarkable rise of smallcaps reflects the emergence of a broad set of specialised businesses operating in industries where the sectoral tailwinds remain considerably stronger than macroeconomic headwinds, points out Debashis Basu.
Fino Payments Bank's MD and CEO, Rishi Gupta, has been arrested for violating Goods and Services Tax laws, prompting the appointment of Ketan Merchant as the interim head.
A senior Goods and Services Tax (GST) officer has been arrested in connection with the alleged suicide of a junior colleague, who was reportedly facing harassment and pressure to engage in unethical practices.
The Directorate General of GST Intelligence (DGGI) has uncovered a fake input tax credit racket worth approximately 593 crore in Karnataka, leading to the arrest of the alleged mastermind.
A man in Bhiwandi, Thane, has been charged with misusing the identity documents of a senior citizen and his family to operate five firms and evade Goods and Services Tax (GST) payments.
Taxpayers should reconcile returns with AIS, Form 26AS and maintain all supporting records.
Automobile manufacturers have informed NITI Aayog that they face significant challenges in tracing 20-25-year-old vehicles due to multiple ownership changes, hindering their ability to meet Extended Producer Responsibility (EPR) targets for end-of-life vehicles (ELVs). They are seeking government support, including access to updated Vahan registration records, to locate these vehicles and encourage owners to use authorised scrapping centres.
Kanpur police have uncovered a GST fraud racket where suspects used unsuspecting individuals' documents to create fake firms and route transactions worth nearly Rs 250 crore.
Passenger vehicle sales in India reached a record high of 4.7 million units in FY26, boosted by strong performances from major automakers and the implementation of GST 2.0.
