Taxation current affairs for banking, CA, and UPSC exams. GST updates, direct tax changes, income tax, customs duty, and TDS amendments.
Taxation current affairs for Banking, RBI Grade B, UPSC and SSC exams. Practice the latest Taxation MCQs, important exam-ready facts and updates on GST, direct and indirect tax changes and compliance updates — refreshed regularly for 2026.
Practice the latest Taxation current affairs MCQs for Banking, RBI Grade B, UPSC and SSC exams. This week's Taxation quiz has 12 timed questions with answers and detailed explanations — a quick way to test your revision before the exam.
Income Tax Department data show net direct tax collections grew 14.64% year-on-year to Rs 5.21 lakh crore as of June 17, with advance tax up 15.3%.
The next GST Council meeting will prioritise process reforms and corrections to the inverted duty structure, government sources said.
The CBDT released guidelines for FY2026-27 identifying six categories of income-tax returns that will be compulsorily selected for complete scrutiny, including survey, search, reassessment and tax-evasion cases, with scrutiny notices to be served by June 30.
Gross GST collections grew 3.2% year-on-year to over Rs 1.94 lakh crore in May 2026, driven largely by a sharp jump in import-linked revenue even as domestic collections dipped.
Gross GST collections rose 3.2% year-on-year to about ₹1.94 lakh crore in May 2026, driven largely by a surge in import-linked revenues.
A few sample questions to test your revision. Attempt the full timed quiz for the complete set.
Under the GST law panel's cleared proposal, a buyer's input tax credit will be protected against supplier default provided that:
Answer: B. The invoice is reported and payment is made through banking channels
The proposal safeguards the buyer's ITC when invoices are reported and payments are routed through banking channels, with authorities recovering dues from the defaulting supplier instead.
Which body's law panel cleared the proposal to shield buyers' input tax credit from supplier defaults?
Answer: B. GST Council
A GST Council law panel cleared the proposal, addressing a long-standing industry demand; the change is expected to be notified soon.
The customs-duty exemption covered machinery used to manufacture which of the following?
Answer: B. Lithium-ion cells, inductor coil modules and display assemblies
The notification exempted customs duty on goods used in manufacturing lithium-ion cells, inductor coil modules and display assemblies.
Taxation current affairs cover GST, direct and indirect tax changes and compliance updates. These are frequently tested in Banking, RBI Grade B, UPSC and other government exams, so revising them regularly helps in both prelims and mains.
Use the latest Taxation MCQs on this page for quick revision, then attempt the full timed Taxation quiz to test recall under exam-like conditions.
Taxation current affairs on TestNeeti are updated regularly as new developments are published, with the most recent and exam-important items surfaced first.
Recent high-value Taxation topics include direct tax, CBDT, advance tax, Securities Transaction Tax — all covered with key facts and MCQs on this page.
Taxation current affairs are important for these competitive exams:
