State finances strained by welfare guarantees and GST shortfall; measures to raise tax revenue and trim spending.
Five welfare guarantees and GST rate rationalisation have increased committed revenue expenditure and reduced revenue receipts, widening the revenue deficit. The government plans to mobilise own-tax revenues and undertake expenditure rationalisation to protect priority allocations and narrow the deficit. Mid-year figures show 7.7% revenue collection growth, 32.3% rise in capital spending, first-half expenditure at 36.4% of budget estimates, and a projected fiscal deficit of 2.95% of GSDP.

Foreign investment in insurance raised to 100% to attract capital and boost competition while strengthening policyholder protections.
The amendment raises the foreign direct investment limit in the insurance sector to 100 per cent to attract capital, technology and competition; permits mergers between non insurance companies and insurers; reduces the net own fund requirement for foreign reinsurance branches to Rs 1,000 crore; increases regulator penalties to Rs 10 crore for insurers and intermediaries; provides a Policyholders' Education and Protection Fund and regulator power to disgorge wrongful gains; and grants greater operational autonomy to a major public insurer.

Opposition MPs demand release of pending central funds for infrastructure, education and disaster relief to ensure programme delivery.
Opposition Rajya Sabha members pressed for immediate release of pending central funds for infrastructure, education, disaster relief and centrally funded schemes, noting the net outgo from the Consolidated Fund is materially less than gross supplementary demands and urging transparency on delayed disbursements and alleged state-by-state discrimination in fund releases.

IndiGo seeks refund of over Rs 900 crore Customs duty on re imported aircraft engines and parts.
IndiGo seeks refund of over Rs 900 crore Customs duty paid on re imported aircraft engines and parts after overseas repairs, alleging an unconstitutional double levy because it also paid GST under the reverse charge for repair services. A Customs tribunal previously held re imports should not bear Customs duty again and treated a later exemption amendment as prospective. After paying duty under protest on more than 4,000 bills, IndiGo's refund claims were refused pending reassessment of each bill.

Haryana launches Kar Hiteshi app for confidential GST reporting and online excise permissions to digitise tax compliance.
The Kar Hiteshi mobile app enables confidential reporting of GST irregularities with multimedia uploads and investigator action; six online excise services provide electronic applications, status tracking and digitally signed permission letters for ethanol, ENA and denatured spirit imports/exports, and authorities directed digitisation of remaining modules including brand label registration and licensing.

Punjab industrial policy will streamline project clearances to 5-45 days and provide tax and duty exemptions.
Punjab's forthcoming industrial policy creates categorical clearance timelines under an online Right to Business mechanism-five days for green projects and certain real estate proposals, 15-18 days for proposals needing policy adjustments, and up to 45 days for projects requiring environmental clearances or power viability review-and introduces a Private Industrial Park Policy alongside exemptions such as electricity duty relief, production-linked incentives, state GST refunds, and stamp duty waivers to attract investment.

Tide's platform enables MSME GST and Udyam registration, enhancing compliance and access to government benefits.
Tide provides Udyam Registration and GST Registration services to enable MSMEs to access government benefits, input tax credit, priority loans and marketplace participation. Complementary financial products-bill payments, fixed deposit intermediation, NCMC card integration and partner disbursement portals-are delivered to improve cashflow, evidentiary records and eligibility for credit and statutory reporting. Tide frames these offerings as aligned with government objectives to formalise and digitise MSMEs and to facilitate cross border trade under UK India collaboration.

Highway tolls are criticised as excessive charges amid poor maintenance and congestion, proposing free passage after prolonged delays.
Highway toll collection is criticised as creating an excessive burden on motorists through layered taxes and ongoing tolls despite poor road maintenance and congestion; operational failures at toll plazas produce hidden economic costs, and judicial rulings have constrained tolling where maintenance standards are unmet, with a proposed administrative remedy of free passage after delays exceeding five minutes.

Customs reform to simplify compliance and rationalise duty rates ahead of Budget announcements, expected to increase transparency.
The government plans a comprehensive simplification of customs focused on customs duty rate rationalisation, procedural streamlining to reduce compliance burdens, and transparency-enhancing measures analogous to income tax. Further tariff reductions are contemplated where rates exceed optimal levels, following earlier eliminations that reduced tariff slabs to eight including a zero rate, with formal announcements anticipated in the upcoming Budget.

GSTR-3B Table 3.2 auto-populated values become non-editable; correct via GSTR-1A amendments for the same period.
From the November 2025 tax period, values auto-populated into Table 3.2 of Form GSTR-3B-reflecting inter state supplies to unregistered persons, composition taxpayers, and UIN holders from GSTR-1, GSTR-1A, and IFF-will be non-editable; corrections must be made by amending the underlying data via Form GSTR-1A for the same tax period (or through subsequent GSTR-1/IFF filings), which will instantly update Table 3.2 and allow filing of GSTR-3B with corrected values.

International Tracked Packet Service between India and Russia to provide trackable, cost effective logistics for low value e commerce consignments.
The Department of Posts and JSC Russia Post established an International Tracked Packet Service (ITPS) to provide a cost effective, trackable channel for low value cross border consignments, incorporating electronic advance data transmission, end to end tracking and delivery confirmation to enhance transparency, security and customs clearance, and offering preferential delivery rates to improve competitive tariffs and market access for MSMEs and exporters.

Cooperative sector GST exemption urged to protect low margin, community enterprises and sustain livelihoods through price stability.
Demand to exempt cooperative sector products from GST on the basis that cooperatives are low margin, community oriented enterprises; GST increases costs, reduces competitiveness and harms vulnerable members. Exemption is urged to maintain price stability, improve returns for members and sustain local community production systems. Related parliamentary representations seek environmental safeguarded land allocation for pilgrimage infrastructure, a national processing hub for a regional crop, and measures addressing road conditions, fire safety and flood relief.

GST registration requires bank account details within 30 days or before filing outward supplies; failure triggers automatic suspension.
Rule 10A requires taxpayers (except those under collection/deduction schemes and suo moto registrations) to furnish bank account details within 30 days of registration or before filing outward supplies in GSTR 1 or IFF, failing which the portal will automatically suspend registration. Bank details can be added via Amendment of Registration (Non Core Fields). Once details are furnished, cancellation proceedings are automatically dropped; if not dropped immediately, taxpayers may use the Initiate Drop Proceedings option. OIDAR and NRTP taxpayers are exempt, except OIDAR taxpayers who appoint a representative in India.

RBI cuts repo rate and deploys large bond purchases and forex swaps to lower loan costs and boost growth.
The central bank cut the repo rate by 25 basis points to 5.25% and announced open market purchases of government bonds totaling Rs 1 lakh crore plus a USD 5 billion buy-sell swap to add durable liquidity, ease seasonal pressures, accelerate transmission of lower policy rates to bank lending, lower borrowing costs for home, auto and business loans, and support growth given benign inflation and upgraded GDP forecasts.

RBI raises GDP growth projection to 7.3% for FY26, citing domestic demand, investment momentum and GST rationalisation.
Reserve Bank monetary policy raises the GDP growth projection for 2025-26 to 7.3% with quarterly forecasts, attributing the upgrade to strong Q2 activity, robust domestic demand from GST rationalisation and festival spending, front loaded government capital expenditure, softer crude prices and accommodative financial conditions; it notes balanced risks and some weakening in leading indicators.

GST revenue collections for Nov 2025: gross and net figures by component show modest aggregate growth.
Monthly GST receipts for November 2025 present gross and net collections by component (CGST, SGST, IGST), by source (domestic and imports), and state/UT. Gross collections show modest aggregate growth with import revenue up and domestic marginally down. Refunds (domestic and export) are subtracted to yield net GST revenue, producing a slight increase in total net receipts; compensation cess is reported net of refunds and noted as transitory until loan liabilities are cleared.

GSTR 9/9C guidance: report RCM and prior year ITC in the year of payment; reconcile timing differences in GSTR 9C.
Reverse charge liabilities and related input tax credit paid in a year must be reported in the GSTR 9 for the year in which payment occurred; prior year ITC claimed in the current year must be shown in Table 6A1 of GSTR 9 for the year it was availed, while reversals in the current year of ITC pertaining to an earlier year need not be reported in Table 7. Timing differences between GSTR 9, GSTR 3B and GSTR 9C (including Table 12B and 7J) may create unreconciled differences to be explained in Table 13 of GSTR 9C. Non GST purchases are not reported in GSTR 9. Table 4G1 is for e commerce operators liable under the tax paying provisions.

Tobacco excise duty bill framed as public health measure; Opposition says it breaches GST one nation, one tax and hurts poor.
The Bill imposes increased excise duty on tobacco products as a public health tool, converting amounts formerly raised by cess into central excise revenue while proposing measures to protect tobacco farmers; opponents argue it undermines the one nation, one tax GST principle by creating parallel tax, valuation and audit burdens and disproportionately affecting low income consumers.

Leasing residential premises as hostels for students and professionals is exempt from GST under the residential use exemption.
Leasing residential premises to an entity that uses the property as a hostel for students and working professionals qualifies for the GST exemption for residential accommodation, because the ultimate use remains residential and levying GST would be passed on to occupants and defeat the legislative intent of the exemption. Administrative rulings had denied exemption by classifying the supply as non residential, but higher courts treated the leasing as exempt where the property continued to function as long term residential accommodation.

Tobacco taxation: the bill replaces GST cess with specified excise rates to maintain higher prices and stabilise revenue.
The Central Excise (Amendment) Bill, 2025 empowers the Centre to levy higher central excise duty on tobacco and related products after the GST compensation cess ends, replacing the current 28% GST-plus-cess regime with specified excise rates and floors for categories such as unmanufactured tobacco (60-70%), cigars and cheroots, cigarettes by length/filter, and chewing tobacco, to stabilise tobacco taxation and preserve higher consumer prices for public health purposes.