GST Council may scrap arrest provisions, fast-track refunds with 90% automatic payout

Economic Times - Oct 5, 2026

The upcoming 57th GST Council meeting on October 7 is set to unveil transformative proposals that could reshape GST regulations. Key suggestions may involve the abolition of arrest clauses related to GST, simplified refund procedures for exporters, and adjustments to the prosecution threshold. Furthermore, small taxpayers could benefit from late fee waivers and quicker registration.

Read full article
More News
Andhra CM Naidu, deputy launch ₹30,000 crore Jal Jeevan Mission 2.0 works
Oct 5, 2026
Andhra CM Naidu, deputy launch ₹30,000 crore Jal Jeevan Mission 2.0 works

Since the coalition government assumed office, tap water connections have been provided to 7.44 lakh families in 4,933 habitations across the state

Bus passenger dropped off 10 km before destination at midnight, paid Rs 1,200 for an AC bus but received a non-AC one; operator ordered to pay Rs 31,500
Oct 5, 2026
Bus passenger dropped off 10 km before destination at midnight, paid Rs 1,200 for an AC bus but received a non-AC one; operator ordered to pay Rs 31,500

A Visakhapatnam man booked a bus from Hyderabad to Rajahmundry, paid Rs 1,200 for an AC seat, and ended up stranded near a highway at 12:30 AM with no help in sight. Here is what happened and what the consumer forum ruled.

Global Market: OPEC+ keeps November oil output steady as Brent tops $100
Oct 5, 2026
Global Market: OPEC+ keeps November oil output steady as Brent tops $100

Seven major OPEC+ producers agreed to keep November crude output unchanged as the Iran conflict disrupted supplies and pushed Brent above $100 a barrel. Meanwhile, G7 nations plan to release 100 million barrels of oil and refined products, including diesel, to ease energy-market pressures and cushion consumers from soaring fuel costs.

Nobel Prize 2026 in Physiology or Medicine awarded to Karl Deisseroth, Peter Hegemann and Georg Nagel
Oct 5, 2026
Nobel Prize 2026 in Physiology or Medicine awarded to Karl Deisseroth, Peter Hegemann and Georg Nagel

Karl Deisseroth, Peter Hegemann, and Georg Nagel have been awarded the 2026 Nobel Prize in Physiology or Medicine. They were recognized for their groundbreaking discoveries related to light-gated ion channels and optogenetics. The technique developed by these scientists allows researchers to control nerve cell activity using light. The Nobel Prize in Medicine has been awarded 116 times since its inception in 1901. Frederick G.

West Bengal to get four new airports in next two years: K Rammohan Naidu
Oct 5, 2026
West Bengal to get four new airports in next two years: K Rammohan Naidu

The airports will come up at Charra, Kalaikunda, Balurghat and Hasimara as the Centre expands air connectivity under UDAN

‘Money cannot buy back missed memories’: Indian man in Canada flies to India for family’s housewarming; video goes viral
Oct 5, 2026
‘Money cannot buy back missed memories’: Indian man in Canada flies to India for family’s housewarming; video goes viral

An Indian man living in Canada appeared to lament missing his family’s housewarming ceremony in India before revealing that he had secretly travelled home for the occasion. Pratik Chaudhary shared the emotional moment on Instagram, saying living abroad can make important family milestones harder to attend. His surprise arrival turned the video into a reunion that resonated with viewers.

Global Market: European stocks edge up; Schneider plunges after PTC deal
Oct 5, 2026
Global Market: European stocks edge up; Schneider plunges after PTC deal

European shares edged 0.2% higher, recovering from last week’s losses, while French stocks fell amid growing fiscal concerns. The CAC 40 dropped 0.8%, pressured by Schneider Electric’s sharp decline after its $22.6 billion PTC deal. Investors also tracked softer US jobs data, bond yields, inflation risks and political uncertainty across Europe.

Ukraine scrambles for money to fight war as Russian strikes batter economy
Oct 5, 2026
Ukraine scrambles for money to fight war as Russian strikes batter economy

Kryvyi Rih, the hometown of President Volodymyr Zelenskiy, is severely impacted by Russian airstrikes disrupting economic activities. The city's largest employer has halted operations, contributing to a dire financial situation. Ukraine faces a significant budget crisis requiring $56 billion for this year to address military and economic needs. Delayed foreign aid adds to the challenges in funding essential services and defense spending.

Chole bhature hack: Netherlands man craving desi food finds jugaad to make it without kneading dough; internet divided over the final result
Oct 5, 2026
Chole bhature hack: Netherlands man craving desi food finds jugaad to make it without kneading dough; internet divided over the final result

A man living in the Netherlands has shared a quirky food hack for Indians missing chole bhature abroad. In a viral Instagram video, Piyush uses a tortilla from Albert Heijn, fries it in hot oil and turns it into a puffed bhatura-like bread. While the hack impressed some viewers, others said it tastes more like puri than traditional bhatura.

Pneumonic plague suspected in Russia, no immediate threat to India: IMA expert
Oct 5, 2026
Pneumonic plague suspected in Russia, no immediate threat to India: IMA expert

Health authorities are investigating a suspected case of pneumonic plague in Russia, which has raised concerns. Rajeev Jayadevan from the Indian Medical Association indicated that tracing contacts is ongoing. He noted that there is no immediate threat to India from this situation at present. The bacterium Yersinia pestis, which causes plague, can lead to severe health complications in individuals.

Pneumonic plague suspected in Russia, no immediate threat to India: IMA expert
Oct 5, 2026
Pneumonic plague suspected in Russia, no immediate threat to India: IMA expert

Health authorities are investigating a suspected case of pneumonic plague in Russia, which has raised concerns. Rajeev Jayadevan from the Indian Medical Association indicated that tracing contacts is ongoing. He noted that there is no immediate threat to India from this situation at present. The bacterium Yersinia pestis, which causes plague, can lead to severe health complications in individuals.

Word of the Day: Perseverate meaning, examples, pronunciation, origin and common usage
Oct 5, 2026
Word of the Day: Perseverate meaning, examples, pronunciation, origin and common usage

Today’s Word of the Day: Perseverate is a verb that means repeatedly returning to the same thought, response, word or action even when it is no longer necessary. The word can describe repetitive thinking in everyday situations and is also used in psychological contexts. Learn its meaning, pronunciation, origin, example sentences and the difference between perseverate and persevere.

Recommended
Copyright © 2015 - 2026 The Financial Capital.

All Rights Reserved.

Subscribe Now!

About Us

The Financial Capital is your independent source for finance information and advice. We provide insights and offer advice from financial experts so you can make the best decisions.