GST

Fino Payments Bank has strongly denied allegations of goods and services tax (GST) evasion in connection with betting-related promotional activities, asserting that its operations remain fully compliant with Indian regulatory and tax frameworks. The bank clarified that it merely provides payment processing infrastructure and does not engage in, endorse, or promote gambling platforms. The clarification comes amid intensified government scrutiny of online gaming ecosystems and financial intermediaries facilitating digital payments.

India’s gross Goods and Services Tax (GST) collections rose 8.1% year-on-year to Rs. 1.83 lakh crore in February, reflecting sustained domestic consumption and stable compliance levels. The increase underscores resilient economic momentum despite global uncertainties and sector-specific headwinds. Both goods and services segments contributed to the revenue uptick, supported by improved invoicing efficiency and digital monitoring systems. Analysts view the steady growth in GST receipts as an indicator of broad-based commercial activity and formalization trends within the economy.

Goods and Services Tax collections in Jammu and Kashmir have touched Rs. 24,080 crore over the past three years, reflecting steady improvement in tax compliance and economic activity across the Union Territory. The figures indicate a gradual broadening of the tax base and more effective revenue administration following structural reforms. Officials and analysts view the trend as evidence of increasing formalization of businesses and improved enforcement mechanisms.

The Internet and Mobile Association of India (IAMAI) has raised concerns over the impact of the current goods and services tax framework on the earnings of app-based drivers, calling for a reassessment of the levy. According to the industry body, higher tax incidence on digital mobility platforms has reduced take-home incomes for drivers while increasing costs for consumers. The issue has gained urgency as gig economy workers face rising living expenses and fluctuating demand.

India’s Goods and Services Tax (GST) collections rose to Rs. 1.93 lakh crore in January, underscoring the durability of economic activity and continued improvement in tax compliance. The strong inflows were driven by stable domestic demand and firm import-related revenues, offering policymakers added fiscal comfort ahead of the Union Budget. The data points to sustained formalization across sectors and the effectiveness of enforcement and digital tracking mechanisms within the GST framework.

The recent reduction in the Goods and Services Tax (GST) on small cars has sparked a noticeable uptick in demand, offering a short-term lift to automakers and ancillary players such as tyre manufacturer CEAT Ltd. Lower acquisition costs have revived showroom footfalls and improved booking momentum, particularly in entry-level and compact segments. However, questions remain over the sustainability of this recovery amid rising ownership costs, tightening credit conditions, and shifting consumer preferences toward premium vehicles and electric mobility.

India’s micro-fertiliser industry has urged the government to reduce the Goods and Services Tax on its products to 5% and streamline refund procedures, arguing that the current tax structure is constraining growth and innovation. Industry stakeholders say high GST rates and delayed input tax credit refunds are squeezing working capital, particularly for small and medium manufacturers.

Volvo Cars is accelerating its transition toward an all-electric portfolio while navigating the evolving tax landscape in India, where the Goods and Services Tax (GST) continues to influence demand for premium SUVs. The Swedish automaker has reaffirmed its long-term commitment to electrification, positioning electric vehicles as central to its growth strategy. At the same time, high GST rates on larger vehicles remain a decisive factor in pricing and consumer adoption.

Eternal, the renowned Indian film production and distribution entity, is facing a Goods and Services Tax (GST) demand of Rs. 27.56 crore, following a detailed assessment by tax authorities. The demand arises from discrepancies identified in prior filings and revenue reporting, highlighting the growing scrutiny of entertainment sector finances in India. Industry analysts note that such GST notices, while common, can affect cash flows and project financing for production houses.

Luxury carmaker BMW has urged the government to consider a uniform 5 percent Goods and Services Tax on electric vehicles in the upcoming Union Budget, arguing that tax rationalization is critical to accelerating EV adoption in India. The company believes a lower and consistent GST regime would help bridge the price gap between electric and internal combustion engine vehicles, stimulate consumer demand, and encourage long-term investment in clean mobility.