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The March 2026 edition of our GST Compendium brings together key developments under GST along with important updates across allied indirect tax laws, including customs, FTP and relevant central and state schemes.
In addition to analysing significant judicial pronouncements under GST, legacy indirect tax laws and customs, the edition outlines critical action steps for businesses to undertake prior to the end of FY 2025-26, while highlighting procedural and compliance priorities that arise with the commencement of FY 2026-27. It encapsulates key notifications, procedural clarifications, and sector‑relevant developments that influence compliance, reporting and operational readiness. The edition presents structured insights that support a consistent, informed approach to indirect tax functions and allied trade requirements.
Key highlights of the GST Compendium March 2026
- Important updates/announcements: The Rajasthan government has notified the Amnesty Scheme for the settlement of outstanding demands relating to the pre-GST period, which provides a structured mechanism for the rebate of tax and settlement of pending disputes arising under the erstwhile indirect tax regime.
- Key judicial pronouncements: The Gujarat HC has held that the ITC, in cases involving the transfer of leasehold rights, cannot be blocked under Section 17(5)(d) of the CGST Act where no construction of immovable property is undertaken. In another significant ruling, the Bombay HC quashed the personal penalties imposed on the CFO, CEO, and joint MD of a company under Section 122(1A) of the CGST Act.
- Significant updates in direct taxes: The CBDT has released draft Income-tax Rules, 2026, and draft forms under the Income-tax Act, 2025, for public consultation, advancing the objective of simplification and ease of compliance. The OECD has also released the 2026 edition of the Manual on Effective Mutual Agreement Procedures, integrating developments under BEPS Action 14 and providing enhanced guidance for handling MAP cases.
The compendium also features our experts’ views on the Bureau of Indian Standards as the custodian of standards, safety and regulatory surveillance, emphasising its role in strengthening product quality, consumer protection and regulatory alignment across an increasingly interconnected trade environment.
Access all our GST Compendium editions here