Taxation & GST Current Affairs for UPSC (GS Paper III)

October 2026

• 13 Oct 2026

  Finance Minister discusses LTCG and Rupee volatility

  Finance Minister Nirmala Sitharaman stated the government will engage with stakeholders regarding Long Term Capital Gains (LTCG) tax and Securities Transaction Tax (STT). She emphasized that the RBI is actively intervening to mitigate...

• 12 Oct 2026

  GST Council unveils massive process reforms

  The GST Council has proposed a series of administrative reforms aimed at easing registration, simplifying refunds, and reducing litigation. These changes, covering nearly 99 percent of existing rate and process issues, are scheduled to...

• 11 Oct 2026

  Uniform 3% Integrated GST Imposed on Bank Imports of Gold and Silver

  The Union government has clarified that imports of gold and silver by banks and designated agencies will attract a 3% Integrated Goods and Services Tax (IGST). This measure is designed to eliminate tax arbitrage and establish parity...

• 09 Oct 2026

  India imposes 3% IGST on gold and silver imports via banks

  The Union government has announced that gold and silver imports by banks and other nominated agencies will now attract a 3 percent Integrated Goods and Services Tax (IGST). This structural decision aims to establish tax parity between...

• 08 Oct 2026

  Structural Reforms Vital for Municipal Property Taxation

  India's cumulative property tax collections remain low at just 0.15 to 0.20 percent of GDP, pointing to an urgent need for structural reforms in municipal bodies. Municipalities struggle with outdated valuation systems, low tax...

• 06 Oct 2026

  Centre Proposes Five-Pronged Reform Plan at GST Council

  The Central Government is set to present a comprehensive five-pronged reform plan during the upcoming Goods and Services Tax (GST) Council meeting. The proposed plan focuses on process reforms, structural rationalisation of tax rates,...

• 05 Oct 2026

  Next-Generation Goods and Services Tax Reform

  The proposed Next-Gen Goods and Services Tax (GST) framework is being structured to drive India's next phase of economic growth. It focuses on two core objectives: reducing and rationalising the existing tax slabs, and making digital...

• 02 Oct 2026

  GST Revenue Crosses 2.03 Lakh Crore in September

  Gross Goods and Services Tax (GST) collections rose 14.7 percent year-on-year to over 2.03 lakh crore rupees in September 2026. However, an analysis of the revenue composition highlighted that an increasing share of gross receipts is...

September 2026

• 18 Sep 2026

  Net Direct Tax Collection Surges 13 Percent to Over 12 Lakh Crore

  India's net direct tax collection has registered a 13 percent growth, reaching over 12.12 lakh crore rupees as of mid-September 2026. Data from the Central Board of Direct Taxes (CBDT) also showed a significant 29.19 percent increase in...

• 18 Sep 2026

  Kearney Study Suggests Reforms for Tamil Nadu's Fiscal Capacity

  A study conducted by management consulting firm Kearney has analyzed the fiscal health of Tamil Nadu. The report states that the core challenge for the state is not excessive borrowing but lower efficiency in tax collection and spending...

• 10 Sep 2026

  PAC Flags Failure to Transfer ₹9,222 Crore in Cess Collections

  The Public Accounts Committee of Parliament has questioned the Finance Ministry over its failure to transfer 9,222 crore rupees collected through various cesses into their designated reserve funds. PAC Chairman K.C. Venugopal emphasized...

• 10 Sep 2026

  India Urged to Adopt Fiscal Measures to Curb Sugar Consumption

  Public health experts have called for India to introduce targeted tax measures on sugar-sweetened beverages, drawing inspiration from successful global models like the UK's soft drinks industry levy. Such policies encourage...

• 01 Sep 2026

  Gross GST Revenue Collection Hits Milestone

  India registered a gross Goods and Services Tax (GST) collection of 2 lakh crore rupees in August 2026, representing a 15 percent year-on-year increase. The total mop-up comprised Central GST at 38,413 crore rupees, State GST at 46,316...

August 2026

• 28 Aug 2026

  Customs Duty Cuts Target Boost to Domestic Solar and Battery Manufacturing

  The government has announced targeted customs duty exemptions on critical components including lithium-ion batteries and solar glass. This policy move aims to lower production costs for domestic clean energy manufacturers and reduce...

• 18 Aug 2026

  Foreign Asset Disclosure Scheme Rolled Out for Taxpayers

  The Central Government has launched a targeted foreign asset disclosure scheme aimed at small taxpayers with undisclosed offshore holdings or bank accounts. Under the framework, taxpayers can declare foreign assets by paying a total...

• 18 Aug 2026

  Presidential Assent for Financial Sector Amendment Acts

  The Taxation and Other Laws (Amendment) Act, 2026, and the Payment and Settlement Systems (Amendment) Act, 2026, have received assent from the President of India. The statutory amendments aim to modernize digital payment oversight under...

• 16 Aug 2026

  Government Eliminates Export Duty on Petrol

  In a bid to balance domestic supplies with international trade dynamics, the Indian government has reduced the export duty on petrol to nil. Additionally, export duties on diesel and Aviation Turbine Fuel (ATF) have been significantly...

• 02 Aug 2026

  Centre Releases Additional Instalment of Tax Devolution to States

  The Union Government has released an additional instalment of tax devolution amounting to 1.09 lakh crore rupees to state governments. Currently, 41 percent of the taxes collected by the Centre is devolved to the states in 14...

• 02 Aug 2026

  Call for Special Taxes on Foods High in Fat, Sugar, and Salt

  Public health advocates and editorials are pushing for the introduction of special taxes on foods high in fat, sugar, and salt (HFSS). With the rising burden of non-communicable diseases like diabetes and cardiovascular issues in India,...

July 2026

• 28 Jul 2026

  Income Tax Department Issues Guidance Note on Crypto Assets

  The Indian Income Tax Department has released a comprehensive guidance note on crypto-asset reporting, aligning its domestic standards with the OECD framework. This move aims to curb tax evasion, increase financial transparency, and...

• 18 Jul 2026

  Government Lists Bill to Replace FII Tax Exemption Ordinance

  The Union Government has listed a Bill in Parliament to replace an Ordinance promulgated in June that exempted Foreign Institutional Investors (FIIs) and the Bank for International Settlements from capital gains tax. The tax exemption...

• 14 Jul 2026

  Direct tax mop-up grows 16 percent in current fiscal

  India's direct tax collections reached 6.51 lakh crore rupees so far in the 2026-27 fiscal year, marking a 16 percent growth. Corporate tax collections rose by 22 percent, indicating robust business activity, while non-corporate taxes...

• 13 Jul 2026

  India outlines concessional tariffs for United Kingdom vehicles under trade deal

  The Directorate General of Foreign Trade (DGFT) notified specific concessional import rules for cars from the United Kingdom under their pending bilateral arrangements. India will permit up to 20,000 completely built units of British...

• 11 Jul 2026

  India Allocates Tariff Quotas for United Kingdom Vehicle Imports

  The Directorate General of Foreign Trade (DGFT) has notified specific tariffs and import quotas for petrol and diesel passenger vehicles imported from the United Kingdom under a trade deal. A total of 20,000 completely built units...

• 07 Jul 2026

  Finance Ministry Notifies Rules of Origin Under India-U.K. Trade Agreement

  The Union Finance Ministry has officially notified the rules for determining the origin of goods under the India-U.K. trade pact, known as the Comprehensive Economic Trade Agreement (CETA). These rules will establish the legal framework...