Economic Survey 2025-26: GST 2.0 Delivers Stable Revenue As Transactions Rise

The Economic Survey 2025–26 said GST revenues remained steady following rate rationalisation under the GST 2.0 framework.Gross GST collections during April to December 2025 stood at Rs 17.4 lakh crore, registering a year-on-year growth of 6.7 percent, the Survey noted. It added that GST revenue growth broadly tracked nominal GDP growth during the period. The Survey also pointed to strong transaction activity, with cumulative e-way bill generation rising 21 percent year-on-year during the same...

Economic Survey 2025–26 Signals Next Phase of Tax Reforms

The Economic Survey 2025–26, tabled by Union Finance Minister Nirmala Sitharaman on Thursday, sets out the government's next set of tax priorities, with the emphasis on simplification, greater consistency, and cleaning up remaining issues across the tax system. On the direct tax side, the Survey notes that the Income Tax Act, 2025, will come into force on April 1, 2026, and apply from the tax year 2026–27. Alongside this, the Survey points to efforts to rationalise the tax treatment of...

Economic Survey 2025-26: IBC Delivers Higher Recoveries Over Earlier Regime Despite Delays

The Economic Survey 2025–26 has found that India's insolvency framework is delivering better returns to creditors than the system it replaced. At the same time, long delays continue to weigh on the resolution of stressed companies. The Survey notes that average recovery rates under the Insolvency and Bankruptcy Code are now around 30%. This is a clear improvement over the 15 to 20% recoveries seen under the pre-IBC regime. It reflects a structural shift in how insolvency is handled in the...

'Godaan' Movie To Be Tax-Free In Chhattisgarh, CM Unveils Trailer

Chhattisgarh Chief Minister Vishnu Deo Sai on Tuesday announced that Godaan, described as the first feature film centered on the cow, will be made tax-free in the state. The announcement was made while he unveiled the trailer of the film at the Chief Minister's residence office in Raipur. In a statement issued on X, the Chhattisgarh Chief Minister's Office congratulated the makers and cast of Godaan and said the state government remained committed to the protection and promotion of cattle. The...

US Class Action Lawsuit Alleges WhatsApp, Meta Can Access Encrypted Messages

A class action lawsuit filed recently in a US federal court in California accuses Meta Platforms Inc. and its subsidiary WhatsApp LLC of misleading users worldwide about the privacy of their messages. The case focuses on WhatsApp's repeated promise that messages sent on the platform are protected by end-to-end encryption and cannot be accessed by anyone other than the sender and the recipient, not even WhatsApp or Meta. The plaintiffs say that promise is false. According to the complaint,...

SEBI Notifies 2026 Amendment Regulations Defining 'Retail Individual Investors'

On 20 January, the Securities and Exchange Board of India (SEBI) notified the SEBI Issue and Listing of Non-Convertible Securities (Amendment) Regulations, 2026, to formally define “retail individual investors” and allow issuers to offer incentives to such investors in debt issuances. The amendment introduces a new definition into the 2021 regulations, classifying a retail individual investor as an individual who applies or bids for debt securities for a value of not more than Rs. 2 lakh. SEBI...

RBI Tweaks Reference Date For Fortnightly Reporting By Scheduled Banks

The Reserve Bank of India has tweaked the cut-off date for fortnightly reporting by scheduled banks, without changing the reporting frequency itself. The change has been brought by the notification of the Reserve Bank of India Scheduled Banks' (Amendment) Regulations, 2025.Banks, which were already filing returns on a fortnightly basis, will now report their statement of position as on the last day of the fortnight, instead of the earlier practice of reporting figures as on a Friday. The change...

RBI Issues New Internal Ombudsman Rules For Credit Bureaus, NBFCs And Prepaid Payment Companies

The Reserve Bank of India has rolled out a fresh set of rules that make it mandatory for several financial sector players to appoint an internal ombudsman, a senior, independent official who will review certain customer complaints before they are finally rejected. Through three separate notifications issued on January 14, 2026, the RBI notified the Internal Ombudsman Directions for Credit Information Companies, eligible Non-Banking Financial Companies, and large non-bank Prepaid Payment...

CCPA Imposes Rs.10 Lakh Penalty On Flipkart And Meta For Misleading Listings Of Walkie-Talkies

The Central Consumer Protection Authority has, in two separate orders, imposed a penalty of Rs.10 lakh each on Flipkart Internet Private Limited and Meta Platforms Inc for indulging in misleading advertisements and unfair trade practices by permitting the listing and sale of walkie-talkies on their platforms without mandatory disclosures required under law.A coram of Chief Commissioner Nidhi Khare and Commissioner Anupam Mishra was dealing with matters relating to the sale of walkie-talkies on...

CBIC Revises Tariff Values For Gold, Silver, Edible Oils And Brass Scrap

The Central Board of Indirect Taxes and Customs (CBIC) has updated tariff values for edible oils, brass scrap, gold, silver and areca nuts. By a notification issued on 15 January 2026, the CBIC notified revised tariff values effective from 16 January 2026, fixing the tariff value of gold at USD 1,483 per 10 grams and silver at USD 2,950 per kilogram. The CBIC has also notified that there is no change in the tariff value of areca nuts falling under tariff item 080280. Further, revised tariff...

DGFT Restricts Import Of Low-Ash Metallurgical Coke For Six Months

In a recent notification, the Directorate General of Foreign Trade (DGFT) tightened norms for the import of low-ash metallurgical coke, placing it under the “Restricted” category for a six-month period from 1 January 2026 to 30 June 2026. During this period, such imports will be allowed only with approval under Policy Condition No. 08 of Chapter 27 of the import policy.Low-ash metallurgical coke refers to coke with an ash content of below 18%. It is a key raw material used in steel and...

CCPA Fines China Gate ₹50,000 For Service Charge Automatically Levied At Bora Bora Mumbai

The Central Consumer Protection Authority (CCPA) has recently levied a penalty of Rs 50,000 on China Gate Restaurant Private Limited for automatically adding a service charge to restaurant bills and charging GST on it, calling the practice unfair to consumers. The order relates to the company's “Bora Bora” outlet in Mumbai. The order was passed by a coram comprising Chief Commissioner Nidhi Khare and Commissioner Anupam Mishra. The Authority said the service charge was not optional in...