LatestGoods & Service Tax (GST) 13 July 2026
GST Updates
Recent updates on GST compliance, tax rates, and regulations have been announced, affecting various industries and businesses. The updates include changes to the GST composition scheme, e-invoicing and e-way bill requirements, and tax rates on hybrid vehicles. Businesses and individuals are advised to review the updates to ensure compliance and avoid penalties.
The GST composition scheme for FY 2026-27 has been explained, including eligibility, turnover limits, tax rates, and compliance requirements.
- E-invoicing and e-way bill requirements have been updated, and businesses must comply to avoid penalties.
- Hybrid vehicle prices have surged after GST on HEVs rose to 25%.
- A retailer or restaurant cannot legally force a customer to pay without generating a tax invoice.
- The government has promoted a measure as a 50 percent reduction in tax for card payments, while those making cash payments will be charged 16 percent GST.
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