Goods & Service Tax (GST) 23 September 2026
India Tax Updates: GST Rulings, MSME Changes, and Major GST Notices
Recent Indian tax developments span Supreme Court guidance limiting GST refund retention, updated MSME classification and compliance rules, a massive GST show‑cause notice for Sapphire Foods, clarification that GST on high‑value UPI MDR is claimable as input credit, Maruti Suzuki’s accelerated capex after GST 2.0 reforms, Crisil’s forecast of 9‑11% state revenue growth driven by a 16% rise in GST collections, and disputes over stamp‑duty valuations in property transactions under the Income Tax Act 2025.
Key developments:
- The Supreme Court says GST refund can’t be held beyond statutory timeline (source).
- MSME classification rules updated; professionals must track new income‑tax refund provisions (source).
- Sapphire Foods hit with a ₹516.84 crore GST show‑cause notice in Tamil Nadu (source).
- NPCI clarifies GST on UPI MDR above ₹2,000 can be claimed as input tax credit (source).
- Maruti Suzuki speeds up capex after GST 2.0 boost to auto demand (source).
- Crisil forecasts 9‑11 % state revenue growth as GST collections rise 16 % in first five months (source).
- Property transactions under Income Tax Act 2025 face stamp‑duty vs market‑value disputes (source).
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