India's GST collections rose to Rs 1.86 lakh crore in August 2025, up 6.5% year-on-year. Net revenue grew 10.7%, with Maharashtra, Karnataka, Tamil Nadu and Gujarat leading contributions.
DEA to begin pre-budget meetings for Union Budget 2026-27 from October 9; ministries must submit estimates via UBIS by October 3, 2025.
CBIC directs customs to verify BIS registration online before clearance of imports; only valid registrations allowed, covering CCTVs and all CRO goods.
India’s GDP grew 7.8% in Q1 FY26, the fastest in five quarters, led by manufacturing and services. Fiscal deficit, tariffs pose future challenges.
Centre collects Rs 10.95 lakh crore in April-July FY26, 31.3% of BE; infra push lifts capital spend to Rs 3.5 lakh crore, fiscal deficit at 29.9%.
DGGI Ahmedabad uncovers Rs 140 crore GST evasion by an online gaming firm; 36 bank accounts attached, Rs 10.6 crore paid, Chinese links under probe.
Supreme Court quashes prosecution against Vijay Krishnaswami, slams Income Tax Department for ignoring CBDT circulars; imposes Rs 2 lakh cost.
DGGI Belagavi busts fake GST invoice fraud worth Rs 145 crore with Rs 43 crore tax evasion; one accused arrested, shell firms and forged documents seized.
ICAI reaffirms its role in nation-building with sustainability, tax reforms, MSME support, digital assurance, and strategic global partnerships.
ICAI suggests reforms in GST covering ITC, refunds, registration, and e-way bills to ease compliance and reduce litigation.
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