14 Feb 2026 05:39 PM
New

₹6.53 Crore ITC Fraud: Director Held for Availing Credit Without Goods Receipt

Source: https://taxguru.in/goods-and-service-tax/rs-6-53-crore-itc-fraud-director-held-availing-credit-goods-receipt.html

The Anti-Evasion Branch of the Central Goods and Services Tax (CGST), Delhi South Commissionerate, has arrested a director of a private limited company engaged in trading electronic goods for allegedly fraudulently availing Input Tax Credit (ITC) of ₹6.53 crore. The ITC was claimed on the basis of bogus invoices amounting to ₹36.28 crore issued by multiple firms, some of which were found to be non-existent, non-functional, or having suspended or cancelled GST registrations.

14 Feb 2026 05:31 PM
New

Over with GST transition pain, FMCG cos now eye a long-term recovery

Source: https://www.livemint.com/industry/retail/fmcg-recovery-gst-cut-consumption-gst-labour-codes-11770975085542.html

GST 2.0 was meant to spur spending, with expectations of a shift to premium and branded goods. Though big-ticket items have seen some traction, the wider consumption uptick remains elusive.

12 Feb 2026 06:42 PM
New

What will drive Britannia’s growth after GST sugar rush fades?

Source: https://www.livemint.com/market/mark-to-market/britannia-industries-q3-earnings-gst-rate-cut-11770881717754.html

Britannia’s Q3 growth got a lift from higher grammage packs after GST cuts, but rising regional competition and rich valuations mean long-term growth must come from adjacencies and e-commerce.

11 Feb 2026 06:44 PM

Excise hike lights up margin, illicit trade risks for cigarette stocks

Source: https://www.livemint.com/market/stock-market-news/cigarette-prices-excise-duty-hike-tobacco-stocks-11770783181323.html

Analysts warn that higher taxes could squeeze margins, dent volumes and fuel illegal trade, even as demand remains resilient.

11 Feb 2026 06:49 PM

HUL Q3 preview: Results may reveal key consumption trends

Source: https://www.livemint.com/companies/hul-q3-preview-consumption-trends-urban-inflation-winter-effect-monsoon-demand-11770789493521.html

Investors are keenly watching Hindustan Unilever's third-quarter earnings to gauge the true picture of consumption in India, factoring in recent GST rate changes, monsoon impact, and economic recovery.

11 Feb 2026 06:55 PM

No Proposal to Remove 40% GST on State-Run Lotteries, Govt Tells Rajya Sabha

Source: https://taxguru.in/goods-and-service-tax/proposal-remove-40-percent-gst-state-run-lotteries-govt-tells-rajya-sabha.html

The Ministry of Finance informed the Rajya Sabha that there is currently no proposal to exclude State-run lottery schemes from the 40% GST rate. GST rates and exemptions are determined based on the recommendations of the GST Council, a constitutional body comprising Union and State representatives.

11 Feb 2026 05:51 PM

Mint Quick Edit | January auto sales ease anxiety over India’s K-shaped recovery from the pandemic

Source: https://www.livemint.com/opinion/online-views/mint-quick-edit-january-auto-sales-india-k-shaped-recovery-pandemic-two-wheelers-cars-11770733020195.html

January’s retail auto sales numbers show impressive growth across vehicle segments. The star showing was by two-wheelers, which recorded a belated surge after the GST reset of 2025.

10 Feb 2026 06:35 PM

Government Rejects Claims of Excessive Multi-Layered Tax Burden

Source: https://taxguru.in/goods-and-service-tax/government-rejects-claims-excessive-multi-layered-tax-burden.html

In response to a starred question in the Lok Sabha, the Ministry of Finance rejected concerns that India’s tax system is excessively multi-layered or driving taxpayer migration. The Government stated that India’s tax-to-GDP ratio for 2025–26 is 18.4%, among the lowest in comparable G20 developing economies, and denied that high taxation is eroding real incomes or forcing citizens to move abroad. It clarified that income tax is levied

10 Feb 2026 06:44 PM

Printed Educational and Medical Books Already Exempt From GST: Government

Source: https://taxguru.in/goods-and-service-tax/printed-educational-medical-books-exempt-gst-government.html

In response to a Lok Sabha question on whether GST on medical and educational books is adding to the financial burden on students and learners, the Ministry of Finance clarified the current legal position. The Government stated that GST rates and exemptions are determined on the recommendations of the GST Council, a constitutional body comprising representatives of the Centre and States/UTs. Addressing the concern directly, it was clarified that printed books, including Braille books, are presently exempt from GST.

10 Feb 2026 06:41 PM

No Compensation Planned for States After Recent GST Rate Restructuring

Source: https://taxguru.in/goods-and-service-tax/compensation-planned-states-gst-rate-restructuring.html

Summary: In a written reply to an unstarred question in the Lok Sabha, the Ministry of Finance addressed concerns over the fiscal impact of recent GST restructuring on States. The Government stated that GST rate changes were recommended by a Group of Ministers on rate rationalisation and approved by the GST Council in its 56th meeting held on 3 September 2025.