GSTR-3B interest now offsets minimum Electronic Cash Ledger balance; auto-populated interest is minimum and non-editable downward.
Interest for delayed GSTR-3B filings from January 2026 will be computed on portal as (Net Tax Liability - Minimum Cash Balance in ECL from due date to date of debit) x (Days Delayed/365) x Applicable Interest Rate and auto-populated in Table 5.1 as a non-editable minimum amount; taxpayers must self-assess and increase it if necessary. The portal will auto-populate Tax Liability Breakup from prior-period supply documents, allow CGST/SGST ITC to be used for IGST after IGST ITC is exhausted, and collect interest for late final returns (GSTR-10) of cancelled taxpayers.

Coaching services GST cut to 5% or exemption sought and exemption threshold raised to Rs. 1 crore to ease costs.
The Coaching Federation of India urges reducing GST on coaching and supplementary education services to 5% or exempting them, arguing limited ability to claim input tax credit makes GST a direct add-on to student fees. It also seeks raising the Rs 20 lakh exemption threshold to Rs 1 crore to curb informality, relieve small centres, improve voluntary compliance and align taxation with education policy, and requests stakeholder consultation with the finance ministry before the Budget.

GST enforcement officer caught accepting 3.5 lakh bribe to secure release of seized lorries.
VACB arrested a GST enforcement officer after a sting operation caught him accepting Rs 3.5 lakh to release two lorries seized with scrap. The officer had detained the vehicles, inspected documents the consignor says were valid, demanded an excessive fine and a bribe to "manage" the matter, arranged a cash handover, and was apprehended following the complainant's report and a laid trap.

India's economy advancing toward third-largest status; GST reforms and four Labour Codes aim to strengthen markets and workers.
India is advancing toward becoming the third-largest economy through large-scale infrastructure investment and policies of self-reliance and indigenous capability. The address highlights the Goods and Services Tax as the pivotal reform for economic integration under the "One Nation, One Market" framework and notes recent steps to improve GST effectiveness. It also stresses the four Labour Codes as reforms intended to benefit workers and accelerate enterprise development.

Counterfeit cigarettes in Munger surge as higher excise duty and GST rates spur organised illegal manufacture and seizures.
Enforcement agencies including the Bihar Police and the Directorate of Revenue Intelligence have conducted search-and-seizure operations against organised syndicates that collect empty branded packets, manufacture counterfeit cigarette sticks, and distribute them across neighbouring states; recent seizures included nearly four lakh counterfeit sticks and significant cash. The Centre's announced increase in excise duty (Rs 2,050-8,500 per 1,000 sticks) in addition to a maximum GST rate of 40% is identified as a driver of the illicit trade, prompting heightened vigilance and coordinated action to protect revenue and public health.

GST official's death: family alleges sustained workplace harassment and files abetment of suicide complaint against a colleague.
A criminal complaint alleging abetment of suicide was registered after a GST official was found dead with a note referencing work issues; the family alleges sustained workplace and personal harassment-including attempted abduction of their child, deliberate vehicular ramming near the office, and verbal abuse-and criticises delay in formal action and nondisclosure of the purported suicide note, leading to protests prompting a probe and registration of a case against a departmental colleague.

RSP-based valuation of notified tobacco goods: report net sale value as taxable value and tax per RSP formula.
For notified tobacco goods, tax liability must be determined from the RSP using Tax Amount = (RSP x GST rate) / (100 + GST rate) and Deemed Taxable Value = RSP - Tax Amount. Due to transaction-value system validations, taxpayers should report the Net Sale Value (actual commercial consideration) in the taxable value field, report the tax amount computed strictly under the RSP formula, and report Total Invoice Value as Net Sale Value plus the RSP-derived tax amount; these fields are self-assessed and limited to the specified HSNs.

Elitecon International strengthens board with three independent directors for enhanced governance, compliance and strategic guidance.
Elitecon International appointed three Independent Directors with backgrounds in public finance, international corporate strategy, and taxation/enforcement, and reconstituted key Board committees-including the Audit, Nomination and Remuneration, CSR, and Stakeholders Relationship Committees-comprising independent and executive directors to strengthen financial reporting, internal controls, compliance, and governance oversight while retaining executive leadership continuity to support strategic priorities.

Haryana power utilities must implement CSI, Balanced Scorecard and ISO certification to improve service delivery and accountability.
HERC directed state power utilities to adopt a structured Consumer Satisfaction Index within three months with monthly monitoring, implement a Balanced Scorecard within four months to track financial and non financial performance across levels, and to obtain ISO certification for standardised procedures. Utilities must optimise power procurement, address billing dispute causes, report and remedy electrical safety hazards, reduce AT&C losses, and improve rooftop solar oversight through random inspections, vendor ratings, and grievance integration.

L&T Finance posts record core PAT and all-time high retail disbursements, powered by margin improvement and AI-driven digitalisation.
L&T Finance reported core PAT of Rs. 760 Crore in Q3FY26 (Rs. 739 Crore after a one-time labour code impact) on a 20% YoY consolidated loan book growth to Rs. 1,14,285 Crore and a 21% YoY retail portfolio increase to Rs. 1,11,990 Crore. Quarterly retail disbursements reached Rs. 22,701 Crore (up 49% YoY), retailisation stood at 98%, NIMs+fees rose to 10.41%, and Rural Business Finance 0 DPD collection efficiency reached 99.7%. The company is scaling AI and digital platforms across credit origination and portfolio management.

Fake GST input tax credit probe triggers multi-state ED raids over alleged Rs 658 crore fraud.
Investigations under the Prevention of Money Laundering Act concern an alleged Rs 658 crore fake ITC scheme involving multi-state searches; a non-existent firm, Siddhi Vinayak Trade Merchants, is alleged to have helped claim Rs 99.31 crore of ITC via bogus invoices valued at Rs 658.55 crore, with some 58 shell entities across states under scrutiny and coordination with state police for the money-laundering probe.

Fees paid to international speakers at summits are not taxable as event management service under reverse charge.
Payments to overseas booking agents for securing international speakers for a summit do not constitute event management service subject to service tax under the reverse charge mechanism because speakers and their agents do not plan, promote, organise or present the event; participation alone is not management, and taxing statutes must be strictly construed.

Postal shipments eligible for Duty Drawback, RoDTEP and RoSCTL incentives from 15 January 2026 to boost MSME e exports.
CBIC extended benefits under the Duty Drawback, RoDTEP and RoSCTL schemes to goods exported via the postal route in electronic form effective 15 January 2026, amending the Postal Export (Electronic Declaration and Processing) Regulations, 2022 and issuing Notification No. 07/2026 Customs (N.T.) and Circular No. 01/2026 Customs to prescribe operational modalities and claim procedures for postal exports.

GST fraud: bogus invoices used to claim ineligible input tax credit, arrests made and investigation ongoing.
Fraudulent availment of ineligible Input Tax Credit of about Rs.8.52 crore through bogus invoices of about Rs.199.90 crore was uncovered; searches showed closed or non existent business premises and statements attributed false ITC claims to a proprietor and his father, both arrested as direct beneficiaries, remanded to judicial custody, and subject to ongoing investigation to trace funds and additional beneficiaries under the CGST legal framework.

VAT amendment bill eases compliance for small dealers with a one-time composition option and two-year refund limit.
The bill allows eligible small dealers a one-time election into the composition scheme that remains effective until voluntary exit or loss of eligibility; Schedule E dealers within the turnover limit may pay tax at a fixed rate, payable in lump sum or instalments. Composition dealers cannot claim input tax credit, charge VAT on invoices, or issue tax invoices to other dealers, and must maintain separate accounts for multiple business classes. The amendment also sets a final filing date for Section 31B settlement applications, creates a right of appeal to the VAT Tribunal for Section 31B orders, and imposes a two-year limitation for VAT refund claims from the close of the relevant financial year, subject to limited exceptions.

MSE reliefs proposed: GST threshold hike, simplified returns, collateral-free loans, faster refunds and export support.
FACSI requests statutory and regulatory measures for MSEs including an exclusive council under the Ministry of MSME, a higher GST exemption threshold, a single simplified GST return, expedited GST refunds within 15 days with statutory interest, complete decriminalisation of procedural lapses, collateral-free lending up to one crore at capped interest rates with interest subvention and automatic working-capital renewals, an Export Risk Equalisation Fund, higher lending targets from SIDBI and public banks, reduced GeM tender fees, and stronger State Facilitation Councils-some measures may require MSMED Act amendments.

ICEGATE-LPMS integration at ICP Agartala enables real-time cross-border data exchange and faster customs clearance for trade.
ICEGATE-LPMS integration at ICP Agartala creates real-time, bidirectional data exchange between ICEGATE and the Land Port Management System, automates import/export workflows, and focuses on critical customs data elements (Bill of Entry, Shipping Bill, Out of Charge, Let Export Order) plus event-based cargo tracking; it also establishes reconciliation mechanisms to preserve data integrity and reduce manual intervention while enabling shared data for coordinated border management and enhanced risk-based targeting.

GST fraud involving Rs 53.28 crore in fake invoices and fraudulent input tax credit resulted in an arrest.
Allegations concern a scheme to obtain fraudulent input tax credit by issuing and receiving fake invoices without actual supply of goods; investigators found absent e-way bills, transport records and bank statements, and physical verification showed firms non-existent or non-operational. Enforcement action by the Anti-Evasion Unit resulted in the arrest of a company director under statutory provisions addressing issuance of invoices without supply and fraudulent availment of input tax credit, with offences treated as cognisable and non-bailable and further investigations continuing to identify other involved entities and persons.

Punjab seeks a special package: extra borrowing, flood relief, police funds, GST compensation, and higher farm incentives.
Punjab seeks a one-time additional borrowing limit of 1 per cent of GSDP under FRBM for disaster and security-related rehabilitation; Rs 1,000 crore special central assistance for police modernisation and emergency response; immediate release of Rs 7,757 crore in withheld Rural Development Fund; Rs 15,000 per acre incentive for paddy diversification; a predictable GST stabilisation or compensation mechanism to address ~Rs 6,000 crore annual revenue loss; and restoration of the original demand-driven MGNREGA funding structure.

VB G RAM G funding change increases state fiscal burden; states demand restoration of demand driven scheme and compensation.
The VB G RAM G Act substitutes MGNREGA and alters financing from 90:10 to 60:40, placing greater recurring cost and responsibility for additional man days on states, which opponents say weakens the employment guarantee and transfers significant fiscal burden to states; they demand restoration of demand driven funding and compensatory measures including a non lapsable infrastructure fund or merging surcharges into the divisible tax pool, plus a GST compensation or stabilisation mechanism.