GST Updates: Penalties, Refunds, New Rules & Impact on Bikes

Key GST developments:
- ICICI Bank's GST penalty reduced to ₹6.95 lakh in Telangana (source).
- GSTR‑9 filing now mandatory for regular taxpayers not exempt for FY 2025‑26 (source).
- Petronet LNG contests a ₹283.72 crore GST demand in Gujarat High Court (source).

Regulatory changes effective Nov 1:
- Simplified GST registration for 9.5 L e‑commerce sellers and faster refund approvals (source).
- New pension life‑certificate window and updates to PNB credit cards (source).
- Industry body in Ludhiana urges a seven‑day GST refund timeline (source).

Market impact:
- GST 2.0’s 40% slab curtails sales of 350 cc+ motorcycles, dropping volumes by 41% (source).
- GSTAT dismisses a demand based solely on e‑way bill mismatch for a job worker (source).