The GST collections for March 2026 were released on 1st April 2026 by the GST Network. March 2026 GST collection stands at Rs.2,00,064 crore, marking a strong close to the financial year 2025-26 and crossing the Rs.2 lakh crore milestone following the February 2026 collection of Rs.1,83,609 crore.In this article, explore the factors behind this performance along with a state-wise breakdown of March 2026 GST collections.Analysis of GST Collections March 2026GST collections for March 2026 rose compared to the prior year, reflecting a robust tax base and strong compliance, as businesses and taxpayers accelerated filings ahead of the fiscal year-end.Gross GST collections reached Rs.2,00,064 crore, compared to last month's Rs.1,83,609 croreYear-on-year, March 2026 figures are 8.8% higher than March 2025's Rs.1,83,845 croreBreakdown includes CGST at Rs.40,549 crore, SGST at Rs.53,268 crore, and IGST at Rs.1,06,246 croreDomestic transactions grew 5.9% YoY, while imports surged 17.8%Refunds totaled Rs.22,074 crore: CGST Rs.3,595 crore, SGST Rs.4,643 crore, and IGST Rs.13,836 croreNet GST collections hit Rs.1,77,990 crore, an 8.2% YoY growthThe March 2026 collections crossing the Rs.2 lakh crore mark for the first time this fiscal year underscores the strong momentum built through 2025-26. The year-end surge is characteristic of heightened compliance activity as businesses reconcile accounts and file pending returns before the financial year closes.Expect continued stability in GST inflows as the new financial year 2026-27 kicks off with a strong baseline and sustained economic activity.GST Collections March 2026 State-wiseMaharashtra topped state-wise gross monthly revenue, trailed by Karnataka, Gujarat, Uttar Pradesh, and Tamil Nadu.States showed varied trends: strong growth in Other Territory (74%), Manipur (56%), and Andaman & Nicobar Islands (31%), while some declines were seen in regions like Jharkhand (-40%), Chhattisgarh (-40%), and Meghalaya (-10%) in post-settlement figures.Top performers like Maharashtra and Karnataka grew 14% and 2% in pre-settlement SGST respectively, while Maharashtra recorded an impressive 17% growth in pre-settlement SGST month-on-month.State-wise Growth of GST Revenues during March 2026*(Doesn't include GST on Import of Goods)State/UTPre-Settlement SGST Mar-25Pre-Settlement SGST Mar-26Growth (%)Post-Settlement SGST Mar-25Post-Settlement SGST Mar-26Growth (%)Jammu and Kashmir257207-20%692652-6%Himachal Pradesh2252449%45451012%Punjab75288818%2,0282,35516%Chandigarh67670%223205-8%Uttarakhand527458-13%77289116%Haryana2,0112,0401%3,2003,82820%Delhi1,5411,5833%3,1482,904-8%Rajasthan2,0492,2399%4,0364,50011%Uttar Pradesh3,2073,3454%6,9697,5308%Bihar1,5741,75812%3,2523,68813%Sikkim335464%9511116%Arunachal Pradesh8380-3%197192-2%Nagaland36398%1021053%Manipur284146%7611956%Mizoram233339%829314%Tripura8411031%1781907%Meghalaya8564-25%170154-10%Assam694592-15%1,4351,356-5%West Bengal2,1472,2013%3,9623,844-3%Jharkhand9029879%1,306788-40%Odisha2,0392,1747%2,5522,115-17%Chhattisgarh1,3041,073-18%2,0611,244-40%Madhya Pradesh1,4171,4210%3,3683,221-4%Gujarat4,2464,4505%6,1936,83510%Dadra and Nagar Haveli...607016%7210749%Maharashtra10,92612,75217%15,76718,00114%Karnataka4,1784,74614%7,4177,5652%Goa2292436%3783965%Lakshadweep1242%119-14%Kerala1,2651,3739%2,7312,8605%Tamil Nadu4,5654,195-8%6,7646,8822%Puducherry4948-1%11813111%Andaman & Nicobar Islands213258%526931%Telangana1,8222,16819%3,6854,0209%Andhra Pradesh1,3991,4161%3,0153,1234%Ladakh2218-16%4036-11%Other Territory2157174%10618574%Grand Total49,89153,2687%86,70790,8175%Monthly Comparison of State-wise SGST Settled, Before and After the SettlementHere's the state-wise pre- and post-settlement SGST overview for 2025-26 up to March:State/UTPre-Settlement SGST 2024-25Pre-Settlement SGST 2025-26GrowthPost-Settlement SGST 2024-25Post-Settlement SGST 2025-26GrowthJammu and Kashmir2,9912,923-2%8,6728,002-8%Himachal Pradesh2,7092,655-2%6,1376,3323%Punjab9,1939,9288%24,74926,8438%Chandigarh7777881%2,3992,4472%Uttarakhand5,8475,9902%9,36010,1168%Haryana23,28524,8367%39,74348,28922%Delhi17,78819,1598%36,21137,3743%Rajasthan18,73619,8636%44,00746,3345%Uttar Pradesh34,84535,6852%84,26484,8001%Bihar9,92511,15012%29,29531,9669%Sikkim39951329%9821,17119%Arunachal Pradesh56773931%1,8312,01810%Nagaland29638831%1,0781,18410%Manipur3483655%1,1161,1735%Mizoram264224-15%937932-1%Tripura57864411%1,7451,700-3%Meghalaya6467079%1,8091,796-1%Assam6,5336,7904%15,55717,76414%West Bengal24,08524,9394%46,78346,548-1%Jharkhand8,9239,5377%14,17412,418-12%Odisha18,10819,2626%26,14223,775-9%Chhattisgarh9,3449,5462%16,39014,158-14%Madhya Pradesh14,03114,6424%36,48834,613-5%Gujarat45,54049,1288%73,20080,82310%Dadra and Nagar Haveli...7387917%1,2331,3167%Maharashtra1,13,7691,24,1609%1,72,3791,95,50013%Karnataka45,31450,24511%82,80887,2565%Goa2,6092,6763%4,5154,5751%Lakshadweep99-4%11530-74%Kerala14,88516,0038%32,77333,7873%Tamil Nadu46,31847,6193%75,85678,1173%Puducherry5535785%1,5091,452-4%Andaman and Nicobar Islands2282457%59673023%Telangana21,29222,6857%44,02546,2025%Andhra Pradesh14,48815,2115%33,30134,3013%Ladakh276273-1%740709-4%Other Territory20840494%9352,582176%Grand Total5,16,4485,51,3027%9,73,85310,29,1316%Note: Post-Settlement GST is cumulative of States/UTs GST revenues and SGST portion of IGST settled to States/UTs.The March 2026 GST collections, breaching the Rs.2 lakh crore mark for the first time this fiscal year, provide a fitting close to FY 2025-26. The full-year gross GST collection for 2025-26 stands at Rs.22,27,096 crore, up 8.3% from Rs.20,55,515 crore in FY 2024-25, signaling a resilient and expanding Indian economy, as per the March 2026 GST collections report details. Also ReadGST Collections February 2026GST Collections January 2026GST Collections December 2025GST Collections November 2025GST Collections October 2025GST Collections September 2025GST Collections August 2025GST Collections July 2025GST Collections June 2025GST Collections May 2025GST Collections April 2025GST Collection March 2025.

Section 206C of Income Tax Act deals with Tax Collected at Source on specified goods and transactions. It places the responsibility on the seller or grantor to collect tax at the time of receipt and deposit it with the government. Understanding 206C TCS is critical because mistakes are common, and compliance errors often lead to interest and penalties.Key Takeaways206C means tax collected at source on specified goods, rights and transactions.Section 206C applicability and section 206C limits differ across sub-sections.TCS under 206C(1H) on sale of goods exceeding ₹50 lakh has been removed from 1 April 2025.Budget 2026 proposes to rationalise section 206C rates to a uniform structure. Not yet in force.What is Section 206C of the Income Tax Act?Section 206C of Income Tax Act is the provision that governs TCS. It requires a seller or specified person to collect tax from the buyer or licensee at the time of receipt of money for notified goods, rights or transactions and deposit that amount with the government.If you are selling certain goods, granting a mining lease, or transferring toll collection rights, you do not just receive the amount.

The event industry in India is a vibrant ecosystem ranging from grand weddings to high-profile corporate summits. Understanding the GST implications on event management is a strategic necessity for planners, clients, and accountants. This guide breaks down everything from applicable rates to specific exemptions in the event industry.Key TakeawaysMost event management services in India attract a uniform tax rate of 18%.Services are primarily categorised under SAC code 998596 for a professional organisation.Registered planners can claim Input Tax Credit (ITC) on vendor expenses like catering and sound.Businesses crossing the ₹20 lakh turnover threshold must mandatorily obtain a GSTIN.Event Management Services under GSTEvent management services under GST encompass a wide range of activities. These include planning, organising, promoting, and presenting various events like concerts, conferences, and weddings. The law defines these services broadly to include venue research, staff coordination, and even accommodation booking.Event management services typically include:Venue selection and liaisoning.Stage design, sound, and lighting setup.Event marketing and public relations.On-site coordination and hospitality.GST Rate on Event Management ServicesThe GST tax rate on event management is set at a standard 18%.

The GST collections for February 2026 were released on 1st March 2026 by the GST Network. February 2026 GST collection stands at Rs.1,83,609 crore, marking a steady performance following the January 2026 collection of Rs.1,93,384 crore. In this article, explore the factors behind this performance along with a state-wise breakdown of February 2026 GST collections.Analysis of GST Collections February 2026GST collections for February 2026 rose compared to the prior year, reflecting a robust tax base and strong compliance.Gross GST collections reached Rs.1,83,609 crore, compared to last month's Rs.1,93,384 croreYear-on-year, February 2026 figures are 8.1% higher than February 2025's Rs.1,69,779 croreBreakdown includes CGST at Rs.37,473 crore, SGST at Rs.45,900 crore, and IGST at Rs.1,00,236 croreDomestic transactions grew 5.3% YoY, while imports surged 17.2Refunds totalled Rs.22,595 crore: CGST Rs.2,430 crore, SGST Rs.3,033 crore, and IGST Rs.17,133 croreNet GST collections hit Rs.1,61,014 crore, a 7.9% YoY growthThe consistent performance stems from stable consumer sentiment following rate rationalizations and ongoing economic momentum. Expect continued stability in GST inflows as businesses sustain investments and consumption patterns.GST Collections February 2026 State-wiseMaharashtra topped state-wise gross monthly revenue, trailed by Karnataka, Gujarat, Uttar Pradesh, and Tamil Nadu.States showed varied trends: growth in Other Territory (94%), Sikkim (26%), and Haryana (23%), with some declines in regions like Jharkhand (-44%) and Chhattisgarh (-23%) in post-settlement figures.Top performers like Maharashtra and Karnataka grew 6% and 11% in pre-settlement SGST respectively.State-wise Growth of GST Revenues during February 2026*(Doesn't include GST on Import of Goods)State/UTPre-Settlement SGST Feb-25Pre-Settlement SGST Feb-26Growth (%)Post-Settlement SGST Feb-25Post-Settlement SGST Feb-26Growth (%)Jammu and Kashmir21023613%657631-4%Himachal Pradesh217204-6%5055376%Punjab7638299%2,3862,350-2%Chandigarh616711%1952107%Uttarakhand473428-10%7898011%Haryana1,9211,9512%3,5114,32823%Delhi1,4551,5064%2,9833,0583%Rajasthan1,6191,595-1%3,8003,8561%Uttar Pradesh2,7322,8635%6,8927,4568%Bihar80398623%2,5502,7468%Sikkim274567%759426%Arunachal Pradesh495715%1501574%Nagaland253021%93930%Manipur242920%94996%Mizoram2217-24%8480-4%Tripura52567%152137-10%Meghalaya547233%15216710%Assam565559-1%1,3261,3240%West Bengal2,0292,0451%4,3783,885-11%Jharkhand787775-2%1,216682-44%Odisha1,5131,74916%2,2501,885-16%Chhattisgarh8848951%1,6081,243-23%Madhya Pradesh1,2871,182-8%3,2742,748-16%Gujarat3,9414,2769%6,3887,59819%Dadra and Nagar Haveli...637315%10216662%Maharashtra9,68210,2866%14,89816,58111%Karnataka3,9074,35311%6,9158,06117%Goa22825211%4034307%Lakshadweep0013%129-21%Kerala1,3121,43810%2,8722,9372%Tamil Nadu3,9313,713-6%5,7966,81118%Puducherry4645-2%1201243%Andaman & Nicobar Islands23248%6057-4%Telangana1,7481,95812%3,6194,12514%Andhra Pradesh1,2151,2513%2,9023,0615%Ladakh101229%283111%Other Territory264156%10520394%Grand Total43,70445,9005%83,34088,7647%Monthly Comparison of State-wise SGST Settled, Before and After the SettlementHere's the state-wise pre- and post-settlement SGST overview for 2025-26 up to February:State/UTPre-Settlement SGST 2024-25Pre-Settlement SGST 2025-26GrowthPost-Settlement SGST 2024-25Post-Settlement SGST 2025-26GrowthJammu and Kashmir2,7352,717-1%7,9807,350-8%Himachal Pradesh2,4842,410-3%5,6825,8212%Punjab8,4409,0417%22,72124,4878%Chandigarh7107212%2,1762,2423%Uttarakhand5,3215,5324%8,5889,2257%Haryana21,27422,7957%36,54244,46022%Delhi16,24717,5768%33,06334,4704%Rajasthan16,68817,6256%39,97141,8345%Uttar Pradesh31,63832,3402%77,29577,2690%Bihar8,3509,39212%26,04328,2789%Sikkim36645925%8871,06020%Arunachal Pradesh48465936%1,6341,82612%Nagaland26034934%9761,07910%Manipur3203241%1,0401,0541%Mizoram241192-20%855838-2%Tripura4945358%1,5671,510-4%Meghalaya56164215%1,6391,6420%Assam5,8396,1986%14,12216,40716%West Bengal21,93822,7384%42,82142,7040%Jharkhand8,0218,5507%12,86811,630-10%Odisha16,06917,0886%23,59021,660-8%Chhattisgarh8,0408,4735%14,32912,913-10%Madhya Pradesh12,61413,2215%33,12031,392-5%Gujarat41,29444,6788%67,00773,98810%Dadra and Nagar Haveli...6777217%1,1611,2094%Maharashtra1,02,8441,11,4088%1,56,6121,77,49913%Karnataka41,13645,49811%75,39179,6916%Goa2,3812,4342%4,1364,1781%Lakshadweep87-11%10520-81%Kerala13,62014,6307%30,04130,9273%Tamil Nadu41,75343,4244%69,09371,2363%Puducherry5055305%1,3921,321-5%Andaman and Nicobar Island2082132%54466222%Telangana19,47020,5175%40,34042,1825%Andhra Pradesh13,08813,7965%30,28631,1783%Ladakh2542550%700673-4%Other Territory18734786%8292,398189%Grand Total4,66,5574,98,0337%8,87,1469,38,3146%Note: Post-Settlement GST is cumulative of States/UTs GST revenues and SGST portion of IGST settled to States/UTs.The February 2026 GST collections showcase a steadily growing Indian economy, as per the February 2026 GST collections report details.Also ReadGST Collections January 2026GST Collections December 2025GST Collections November 2025GST Collections October 2025GST Collections September 2025GST Collections August 2025GST Collections July 2025GST Collections June 2025GST Collections May 2025GST Collections April 2025GST Collection March 2025GST Collection February 2025.

TDS under GST on metal scraps is introduced to prevent revenue leakage and curb tax evasion in the scrap industry. Earlier TDS under Section 51 applied mainly to government entities and PSUs. Effective from 10th October 2024, a mandatory TDS mechanism was introduced for B2B supply of metal scraps between registered persons. With nearly 25 metric tons of scrap generated annually (as per Ministry of Steel), this sector has significant GST compliance importance.Key TakeawaysTDS is applicable only if the contract amount exceeds ₹2.5 lakh.2% TDS will be deducted for metal scraps (1% CGST + 1% SGST or 2% IGST).TDS is levied on the taxable amount, not on GST.The deducted TDS is allotted to the supplier’s Electronic Cash Ledger, which can then be utilised to pay GST liability.Applicability of TDS to the Metal Scrap IndustryA recipient of metal scrap from a registered supplier is liable to deduct TDS under GST, if the provisions of Section 51 are applicable.TDS is applicable only if the taxable value of supply exceeds ₹ 2.5 Lakhs.Tax will be deducted at the rate of 2% on taxable value of metal scrap (1% CGST+1% SGST or 2% IGST)ExemptionNo TDS as a tax is payable on the unregistered person supplying the services (though RCM may apply).Certain exemptions shall be applicable to some governmental organisations notified under the GST ActTDS Rates and Threshold LimitsApplicable TDS RateTYPE OF TAXRATECGST1%SGST1%IGST2%TDS is levied only on the taxable value, excluding GST.Threshold Limit The threshold of ₹2.5 Lakhs applies to the contract value. If a single contract is worth ₹3 Lakhs but is split into three invoices of ₹1 Lakh each, TDS is still applicable.According to a report submitted by the GST Council, the precision of GST returns has been observed to have improved because of the implementation of the concept of GST TDS.TDS Deduction ProcessA step-by-step procedure for the deduction and deposit of TDS applicable on metal scrap is as follows:Verify whether the buyer is a notified deductorDeduct 2% TDS at the time of payment or credit, whichever is earlierDeposit the deducted amount via the GST portalFile GSTR-7 returnExample of TDS Deduction on Metal ScrapParticularsAmount (₹)Value of metal scrap5,00,000GST @18%90,000TDS under GST @2%10,000Net amount paid to supplier5,80,000Compliance and Due DatesTimely compliance is essential to avoid late fees and interest under GST.The deductor shall obtain a separate GST registration as a TDS deductor.

Goods and Services Tax (GST) rates in India are crucial for every segment of the economy. Every time the GST Council meets, Indian enterprises and consumers alike are watching out for the next set of GST rate changes. India’s GST regime is undergoing a landmark transformation with the 56th GST Council meeting unveiling GST 2.0 - next-generation reforms simplifying tax slabs to 5%, 18%, and 40%. Effective from September 22, 2025, these reforms aim to ease compliance, boost consumption, and fuel economic growth.Key TakeawaysThe 56th GST Council meeting unveiled a simplified GST 2.0 regime, reducing slabs to 5%, 18%, and 40%, effective from September 22, 2025, to streamline compliance and spur economic growth.​Essential items, including dairy products, 33 lifesaving drugs, and educational materials, are now at a nil GST rate, while individual health/life insurance is exempted.​Daily essentials, agricultural goods, and healthcare equipment were moved to the 5% GST slab, and electronics like small cars, motorcycles, and appliances now attract 18% GST.​Sin goods such as pan masala, aerated and caffeinated beverages, and luxury vehicles face a steep GST rate hike to 40%.​All these GST rate changes, barring tobacco products, are effective from September 22, 2025, with comprehensive notifications aligning rules, exemptions, and refund mechanisms to council decisions.This GST rates in India 2026 guide breaks down GST rate structures, latest changes, and item-wise tax lists to help you stay informed and compliant. GST Rate Meaning GST rate in India means a tax percentage applied on the sale of goods or services. Therefore, GST rate is prevalent under the CGST, SGST and IGST Acts.

The Union Government of India has introduced two tax bills in the Lok Sabha in December 2025 for maintaining revenue neutrality of indirect taxes on tobacco, pan masala and related product categories. These bills were passed as Acts to ensure that such addictive sin goods do not become affordable as part of the government’s strong commitment to public health. It has come into effect from January 2026.Key TakeawaysThe statutory deadline for the GST compensation cess is 31st March 2026, after which the new central excise tax will replace it.The new excise tax will keep these tobacco-based products revenue-neutral for the government exchequer. The Health Security se National Security Cess plans to introduce a capacity-based tax burden on tobacco-based sin product manufacturers.  Tax revenue from this source will be used to fund public health and national security expenditures.  What is the Health Security to National Security Cess Act, 2026?Health Security to National Security Cess Act, 2026, is a legislation Introduced in the Lok Sabha on 1st December 2025. Subsequently, the Lok Sabha passed the bill on 5th December 2025 and Rajya Sabha passed the bill on 8th December 2025. It intends to generate a stream of tax revenue for the Union Government of India based on the declared capacity of tobacco and pan masala manufacturers.

Import-export code (IEC) is required for Indian enterprises to engage in the import and export of goods. Hence, annual IEC verification is a critical compliance, as it avoids any regulatory hiccup leading to smooth enterprise trade operations in the clearance of goods or receiving remittances. This article is a guide on the IEC code and how to verify the same.Key TakeawaysIEC, a 10-digit code matching PAN, is mandatory for all import/export activities in India, issued by DGFT, enabling customs clearance and foreign remittances.Annual profile confirmation on DGFT portal (between April-June) is required to keep IEC active; failure leads to deactivation, blocking shipments and banking.Check IEC status online via DGFT portal's "View Any IEC Details" using IEC/PAN and firm name to ensure compliance and access incentives.What is an IEC code?An IEC is a 10-digit unique identification number which is issued by the Directorate General of Foreign Trade (DGFT). Any enterprise intending to import or export goods must mandatorily obtain an IEC.While your IEC number is now identical to your PAN number, they are not the same thing. A PAN is for tax tracking, whereas the IEC must be separately activated via a DGFT application to permit international trade.Mandatory Annual UpdateElectronic confirmation of the IEC profile on the DGFT portal is compulsory every year between April and June.

The process of tracking ICEGATE (Indian Customs Electronic Gateway) shipping bill status is a critical step for exporters. It ensures smooth operation of custom clearance and timely export incentives. ICEGATE provides a centralized online platform where exporters can monitor the real-time progress of shipping bills filled with Customs. Exporters can identify delays, confirm customs approval and ensure timely processing of export incentives. This process helps exporters maintain compliance, improve coordination with Customs House Agents. It also avoids unnecessary shipment or payment issues.Key Takeaways Shipping Bill is India's mandatory digital export document for customs clearance and incentives like duty drawback or IGST refunds.Track status on ICEGATE without login using Port Code, SB No., and Date.Download via ICEGATE login: Services > Document Download, enter details to get PDF.Benefits include avoiding delays, ensuring compliance, and speeding up refunds.What is a Shipping Bill?It is a mandatory customs document, filed by the exporters when goods are exported from India.

The latest GST reforms from the 56th Council meeting in September 2025 have turned automobile taxation on its head and in the best way possible. Until recently, car prices felt like a puzzle. There was the base GST, then a compensation cess that varied with size, engine capacity, and even fuel type. The result? No simple answer to “how much tax will this car attract?”That confusion is now history. The Council has cut through the layers of compensation cess.