LatestIncome Tax 18 September 2026
India Tax Updates: GST Credit, SP Sale, Pension, Salary, Filing Extensions
The Finance Ministry clarified that the 18% GST on UPI merchant discount rate can be claimed as input tax credit, aiding merchants. SP Group seeks ₹25,000 crore for a partial stake sale. The 8th Pay Commission proposes a minimum pension of ₹58,000 for Level 7 employees. Experts warn that a higher wage‑ceiling may not reduce take‑home pay as employers cannot shift extra EPF contributions. Several professional bodies have secured extensions for tax audit and ITR filing deadlines into late October 2026‑27.
- GST on UPI MDR – The 18% GST can be claimed as input tax credit, benefiting merchants. (Indian Express)
- SP Group stake sale – The conglomerate is looking for ₹25,000 crore for a partial share sale. (Financial Express)
- 8th Pay Commission pension – Proposes a minimum pension of ₹58,000 for Level 7 employees. (Economic Times)
- Wage‑ceiling impact – Higher ceiling won’t cut in‑hand salary because employers cannot recover extra EPF contributions. (Economic Times)
- Tax filing extensions – Extensions granted for tax audit reports to Oct 31 and ITR filing to Oct 30 for AY 2026‑27. (Bikaner Tax Consultants), (CAclubindia TDS), (AIMTPA)
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