GST registration is an essential compliance for any business or professional in India. There are set criteria for one to qualify for the GST registration. Alternatively, businesses can also voluntarily obtain GST registration or GSTIN. In this article, we will cover the following aspects for one to learn about GST registration in India.Key TakeawaysBusinesses exceeding prescribed turnover thresholds or meeting specific criteria must register under GST to comply with the law and avoid penalties.As per the GSTN advisory dated 20th November 2025, valid bank account details must be furnished within 30 days of registration or before filing GSTR-1/IFF to avoid suspension.Registration involves Aadhaar and biometric authentication requirements per the GSTN advisory dated 12th February 2025, with timely biometric verification critical for smooth ARN generation.The registration process follows CBIC’s strict verification rules (Central Tax Instruction No. 03/2025-GST dated 17th April 2025), emphasizing place of business verification and timely physical verification to ensure compliance.What is GST RegistrationUnder Goods And Services Tax (GST), businesses whose turnover exceeds the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may be, must register as a normal taxable person.

Understand the new GST interest calculations rules along with revised interest calculation formula for delayed filings of GSTR 3B implemented in 2026 The 30th January 2026 GSTN advisory has enhanced the interest calculations on delayed filings and payments of GSTR 3B from the January 2026 tax period. The interest will be computed automatically by the portal and will be reflected in Table 5.1 of GSTR 3B.Key TakeawaysThe interest calculation procedure has been automated by the GST portal with applying a revised interest calculation formula.This enhancement facilitates the benefit of minimum cash available in the Electronic cash ledger of the taxpayer from the due date of payment of tax.The revised interest calculation formula is Interest = (Net Tax Liability – Minimum Cash Balance in ECL from due date to date of debit) × (No. of days delayed / 365) × Applicable Interest RateThe interest is calculated only on the net shortfall in the Electronic Cash Ledger (ECL) after the due date of payment and not on the entire tax liability.Background of GST Interest LevyThe revised computation formula considers only the minimum cash available in the Electronic Credit Ledger (ECL) of the taxpayer from the due date of payment of tax.To begin with, Section 50 of the CGST Act, 2017 states that a taxpayer is liable to pay interest for the delay made in filing GSTR 3B and making the payment of tax. Hence, interest at 18% is mandatorily payable on delayed tax payments, and this section specifies when interest is payable on tax.Rule 88B of the CGST Rules, 2017 states how the interest on such delayed tax payment is to be calculated, i.e., interest is payable only on the portion of the tax paid through ECL of the taxpayer, and no interest is payable on the tax paid by utilising ITC.Further, the proviso to Rule 88B states that no interest will be payable on the portion of the tax paid through ECL if the cash was deposited on or before the due date, even if the return for the period is filed after the due date.Key Features of the Revised GST Interest CalculationHere are the Key Features of the GSTN’s Advisory dated 30th January 2026:System-Computed Interest – The amount of interest is auto-populated by the portal on the basis of the revised computational formula in Table 5.1 of GSTR 3B. This is the minimum interest to be payable by the taxpayer and thus cannot be edited by the taxpayer to downvalue the auto-computed interest.Auto population of tax liability breakup in GSTR 3B –For the filing of GSTR-3B from the January 2026 tax period onwards, the GST Portal shall auto-populate the “Tax Liability Breakup Table” in GSTR-3B on the basis of the date ofdocuments related to supplies reported in GSTR-1 / GSTR-1A / IFF pertaining to any previous tax period.

Each year, during the Union Budget presentation, the fiscal deficit emerges as a primary economic measure. The word fiscal originates from Latin word fiscus, which means a public basket of money. In simple terms, fiscal relates to government finances and the management of public funds.Key TakeawaysFor the financial year 2026-27, India’s fiscal deficit is estimated at 4.3% of GDP.In absolute terms, the deficit stands at ₹16.96 lakh crore.The government successfully met its previous target of 4.4% for FY 2025-26, continuing a steady path of fiscal consolidation.A high deficit can lead to increased interest rates, higher inflation, and a rise in national debt.The government aims to bring the central government debt-to-GDP ratio down to approximately 55.6% this year, moving towards a long-term goal of 50% by 2031.What is Fiscal Deficit?Fiscal Deficit refers to a gap in government’s budget; a gap that arises in any financial year when the government’s total expenditure exceeds its total income in that year and consequently it borrows money to cover that gap.In the 2026 Union Budget, the government estimated total receipts (excluding borrowings) at approximately ₹36.5 lakh crore, while total spending is projected at ₹53.5 lakh crore. Because the planned spending is higher than the income, the resulting gap is the fiscal deficit.Causes of India’s Fiscal DeficitSeveral structural factors contribute to India's financial gap:Subsidies: Significant spending continues on food, fuel, and fertilisers to support vulnerable sectors.Interest Payments: A large portion of annual spending is dedicated to paying interest on previous loans.Public Sector Salaries: Regular updates to dearness allowances for government employees increase recurring costs.Informal Economy: A significant portion of the economy remains informal, which limits the total tax base.Global Headwinds: Slow global growth can impact export-related tax collections and force the government to increase domestic stimulus spending.Trends in India’s Fiscal DeficitOver the last few years, the Government of India has chosen to spend more on long-term work like roads, railways, and big infrastructure. This helps future growth, but it also puts pressure on today’s finances.What the numbers sayCapital spending was about 1.6% of GDP in 2014-15.It has reached an all-time high of 4.4% of GDP (Effective Capex) in 2026-27.In absolute terms, Capital Expenditure has increased from ₹2 lakh crore in 2014-15 to ₹12.22 lakh crore in 2026-27.Tax income is projected to grow by 8% in FY 2026-27 compared to the previous year's revised estimates.For the 2026-27 financial year, the government plans to spend ₹53.47 lakh crore.In the same period, it expects to earn (non-debt receipts) about ₹36.51 lakh crore.The resulting gap is estimated at ₹16.96 lakh crore.This gap equals a fiscal deficit of 4.3% of India’s GDP.Impact of Fiscal Deficit on the Indian EconomyA high fiscal deficit changes money flow in the economy.

GST login to the GST portal allows taxpayers to file GST returns, claim refunds, and reply to notices. You can even cancel GST registration. Using credentials, one can log in to the GST portal to avail some compliance services and communications with GST officers. It means you don't need to visit CBIC offices to physically submit your GST return. In this article, let’s understand the GST login portal, services available before and after GST login, steps to obtain GST login and steps to log in to the GST portal successfully.What is the GST Portal?GST portal is a common PAN-India government website for GST compliance.

The Maharashtra government introduced the MAHAGST portal under its Digital India initiative to make it easier for taxpayers to file their GST returns. The MAHAGST portal, available at mahagst.gov.in., enables taxpayers to apply for GST registration, make e-payments, and download their GST registration certificate.Below, we examine the MAHAGST portal and its login process.What is the MAHAGST Portal? The MAHAGST portal is an initiative of the Maharashtra government to maximise tax collection while easing the tax filing process for taxpayers. This portal administers various services related to the Goods and Services Tax (GST), Value Added Tax (VAT), and Profession Tax in an objective, uniform, well-structured, and proficient manner. Taxpayers based in Maharashtra can easily make GST registrations, file GST returns, make online payments, locate GSTP, and assess the e-way bill system through the MAHAGST portal.Services Available on MAHAGST PortalThe official MAHAGST website offers a plethora of services. You can easily find them by browsing the homepage of www.mahagst.gov.in. Some of the services offered by the MAHAGST portal are listed below.E-ServicesLogin for VAT and Allied ActsRTO LoginProfile for Registered DealersGST E-ServicesGST RegistrationGST PaymentsGST Return FilingKnow your GST TaxpayerGST Rate SearchTracking GSTINGST VerificationGST Dealer ServicesGST Rules and Regulationse-Paymentse-Payment Returnse-Payment – Assessment OrderReturn/Order DuesPTEC OTPT PaymentAmnesty-Installment PaymentPT/Old Acts Payment HistoryOther Acts RegistrationNew Dealer RegistrationRC DownloadURD Profile CreationStep-by-Step Process to Register on mahagst.gov.inNow, we are aware of the services available on the MAHAGST portal.

The India-EU trade deal is a historic trade deal announced jointly by India and the European Union on 27th January 2026. This trade deal, or free trade agreement (FTA) between the EU and India, is referred to as the “Mother of All Deals”, as it aims to tap unexplored potential in trade and commerce between these countries. Features of the India-EU trade deal, sectors benefiting in India, and the reaction from the  US are covered in this article.Key TakeawaysIndia and the European Union announced the free trade agreement on 27th January 2026.This agreement aims to ease tariffs on ~95% of products traded between these two countries and also plans a phased reduction in tariffs to safeguard domestic sectors such as dairy or poultry.Labour-intensive industries will gain significant benefits from this free trade agreement.The free trade agreement is yet to receive approval from the respective governments.What is the India-EU Trade Deal?India and the European Union (EU) have negotiated tariff relaxations on various products and services. This agreement aims to increase the ease of business for enterprises and corporations in both countries.The agreement covers:Tariff reductions on various productsWays to ease market access for service sectorsDigital trade and intellectual property provisionsCustoms and regulatory cooperationIndia-EU Trade Deal HighlightsElimination of tariffs on goods exported between these countries.Quotas and phased tariff reductions for high-value products such as automobiles.Simplified customs procedures, stronger intellectual property protections, and improved regulatory predictability.Easing the movement of employees in Indian corporations with EU presence.Tariff Reductions of the India-EU Trade DealIndia exports to the EU: The EU aims to eliminate  duties on more than 90% of tariff lines, which covers almost 96% in export value terms. Textiles, leather, footwear, tea, coffee, spices and other goods produced under labour-intensive industries will benefit from immediate duty elimination.Tariffs on processed food items, marine products and ammunition will reduce to zero over 3 to 5 years.Poultry products, vegetables, steel and other items will have preferential access through tariff reduction.EU exports to India: India also aims to eliminate duty for 86% of tariff lines, which covers ~93% of export value from the EU.Industrial goods used in manufacturing processes, like machinery, electrical equipment, and chemicals, will attract no tariffs.Import duty on automobiles will reduce sharply from 110% to 10% over the next 5 to 10 years. Phase-wise tariff reductions are planned for wine and other alcoholic beverages, making these products competitive in the Indian market.Both countries will provide no tariff relaxation on sensitive agricultural products, to safeguard domestic producers’ interests. India-EU FTA: What gets Cheaper?A tentative list of products that will get cheaper due to FTA in both countries is as follows:For IndiaFor the European UnionOlive & vegetable oil Textiles and appealsProcessed FoodsLeather and FootwearFruit Juices, alcoholic and non-alcoholic drinksGems and JewelleryMachinery and other equipmentChemicals and PlasticsLuxury CarsMarine products and seafoodSector-Wise Impact of the India-EU Trade DealTextiles, leather, footwear, sports goods and other labour-intensive industries will gain competitiveness in the EU market; this would generate local employment and increase margins for these industries. Gems and jewellery products will become cheaper due to tariff elimination in the EU markets. This will provide a stronger foothold in high-value export segments.Chemical & pharma industries will gain from increased exports and strengthen the Indian MSMEs when tariffs are removed up to 12.8%.Indian handcrafted furniture is also supported in this agreement by lowering tariffs up to 10.5%; this would improve India's role in the furniture supply chain.Plastic and rubber industries will gain access to EU markets, which would increase their revenue, margins and local employment.Preferential market access will be given to agricultural products like tea, coffee, fresh fruits and vegetables to make their products competitive in the EU. This will elevate global recognition of Indian agricultural products along with farmers' realised income.Benefits of the India-EU Trade DealIndian exporters will gain preferential access to the EU market, increasing their customer base, revenues and margins.

Union Budget 2026, presented by the Union Finance Minister Smt Nirmala Sitharaman at 11:00 A.M. on 1st February 2026 (Sunday) at the Parliament. It is best understood as a Yuva Shakti-driven, execution-focused Budget that signals a shift from policy intent to system-level delivery. Key TakeawaysBudget 2026 focuses on achieving Viksit Bharat, balancing ambition with inclusion.The GST proposals in Budget 2026 are aimed at implementing proposals approved by the 56th GST Council Meeting held in September 2025.It introduced targeted updates to the GST regime to enhance clarity and ease compliance. It includes greater procedural clarity, stronger refund mechanisms, and simplification of valuation rules to reduce litigation.Budget 2026 measures focus on simplifying direct tax administration while promoting investment. It emphasised new tax compliance frameworks, including revised ITR forms, extended return revision deadlines, and rationalised TDS/TCS rates.Customs and excise duty adjustments announced in Budget 2026 aim to rationalise tariff structures and support domestic manufacturing.Budget 2026 strengthens compliance frameworks to reduce risk and enhance transparency.Budget 2026 Focuses on three Kartavyas:1st Kartavya: Accelerating and sustaining economic growth by improving productivity, competitiveness, and resilience against global volatility.2nd Kartavya: Building capacity and fulfilling aspirations by enabling people, enterprises, and institutions to become active partners in India’s growth journey.3rd Kartavya: Ensuring inclusive participation so every sector, region, and community has access to resources, infrastructure, and opportunities under the vision of Sabka Sath, Sabka Vikas.These are achievable with a supportive ecosystem: momentum from structural reforms, a robust and resilient financial sector, and cutting-edge technologies, including AI applications.

GST on alcohol is not charged, but has various other taxes charged. Governments across the globe tax liquor and related products. They also control and regulate sales. Owing to the local licensing fees and a range of state controls on the trade of liquor, the consumers often end up paying four or five times more than the price at a distillery.Key TakeawaysAlcohol for human consumption is out of GST purview. Hence, no GST is charged for sale of liqour and its variants.Certain ingredients used in the preparation of alcohol are subject to GST.

Digital tax compliance platforms 2026 are software tools that truly automate regulatory filings end-to-end. They are no longer just for handling remote work challenges. Today, these systems provide deep insights and a strategic edge. Modern tax teams use advanced technology for highly accurate compliance. These advanced tools automate filings and eliminate manual data errors.Key TakeawaysArtificial intelligence now handles complex data classification and anomaly detection.Platforms are moving toward instant data sharing with tax authorities.Distributed ledgers provide a secure and immutable trail for audits.List of Trends in Tax Compliance Platforms for 2026The rapid evolution of regulatory requirements is driving a new era of innovation.

Imagine you’re establishing your business in the tech corridors of Karnataka or the vibrant markets of West Bengal. Have you noticed first two digits of your GSTIN upon GST registration? It reveals more than just a code! The first two digits of your GSTIN refers to your business’s home State or Union Territory (UT). GST State code is the unique identification number representing every State/UT in which the taxpayer is registered under the GST law. For instance, 19 for West Bengal or 29 for Karnataka.GST State code helps taxpayers to navigate the complexities of GST jurisdiction in India. Anyone verifying the GSTIN can identify the State/UT in which you've obtained GST registration and operating from.What is the GST State Code?Under GST law, every state and Union Territory is assigned a unique numeric code referred to as the GST state code.