Tax

Himachal Pradesh has introduced a calibrated fiscal framework that balances social welfare objectives with economic stability, avoiding an immediate increase in fuel prices while creating legislative flexibility for future adjustments. The government has proposed a provision allowing up to Rs 5 per litre cess on petrol and high-speed diesel, earmarked for welfare initiatives targeting vulnerable groups. Simultaneously, relief measures for the transport sector—such as reduced entry taxes and toll exemptions—signal a broader policy intent to support economic activity.

India has introduced the Income Tax Act 2025, replacing a decades-old framework with a modern, simplified tax regime aimed at enhancing compliance and clarity. Effective April 1, 2026, the reform streamlines provisions, reduces legal complexity, and improves accessibility without altering the core tax structure. The move is positioned as a key milestone in strengthening governance and supporting economic growth under the broader vision of a developed India.

Delhi’s municipal finances have received a significant boost as property tax collections recorded a sharp rise in the financial year 2025–26. Driven by stronger compliance, targeted enforcement, and a well-structured amnesty scheme, collections increased by over 46 percent year-on-year to Rs 3,116.62 crore. The number of taxpayers also expanded notably, reflecting improved participation and administrative efficiency. The development signals a structural shift in urban revenue mobilization, enhancing fiscal stability for the city’s civic body.

Jaipur Vidyut Vitaran Nigam Ltd (JVVNL) has delivered a landmark financial performance in FY26, achieving record revenue collection exceeding Rs 29,462 crore and surpassing its billing targets with 102 per cent realisation. This milestone reflects improved operational efficiency, stronger billing mechanisms, and enhanced consumer compliance. Notably, the Bharatpur, Kota, and Jaipur zones all exceeded 100 per cent collection efficiency, signaling systemic improvements across regions.

India’s gaming industry faces renewed regulatory scrutiny as Goa authorities issue a Rs. 1,752.38 crore GST demand to Delta Corp and its subsidiary for FY 2022–23. The dispute centers on how tax liabilities should be calculated—whether on total betting volume or gross gaming revenue (GGR). The government’s stance could significantly increase tax exposure for casino operators, while companies argue it contradicts established principles of revenue taxation.