PM Modi said GST reforms will continue as India’s economy grows, easing tax burden on citizens. He highlighted GST 2.0, income tax relief up to ₹12 lakh, and “Made in India” defence production.
GSTN has enabled invoice-wise reporting in Form GSTR-7 starting September 2025. TDS deductors must now furnish invoice-level details while filing returns. Due date: October 10, 2025.
Union Finance Minister Nirmala Sitharaman launched the GST Appellate Tribunal (GSTAT), promising fair, fast, and transparent dispute resolution. The tribunal will handle over 4 lakh pending cases with 116 members across 45 locations.
Ministry of Finance officials have begun field inspections to ensure GST 2.0 rate cuts are passed on to consumers. Retailers, especially in pharma and textiles, face challenges adjusting stock purchased at old rates.
The GST Appellate Tribunal (GSTAT) will handle pending anti-profiteering cases and serve as a single forum for GST disputes. Hearings are expected by December, with appeal filing extended to June 30, 2026.
HRAWI urges the government to rationalise GST for hotels and restaurants, proposing 5% GST with ITC or 18% GST with partial ITC to balance consumer benefits with industry sustainability and reduce operational costs.
The CAG and CBDT have signed an MoU to collaborate on training, research, and AI-driven audits, focusing on capacity building, GST audits, and governance reforms.
The Finance Ministry, via Notification No. 40/2025-Customs, has extended the validity of key customs duty exemptions until September 30, 2027, while phasing out some from September 2025.
Taxpayers must file pending GST returns before October 31, 2025, as per Finance Act 2023. After three years from the due date, filing will be permanently barred.
CBDT has extended the due date for filing Tax Audit Reports for Assessment Year 2025-26 from September 30 to October 31, 2025, providing relief to taxpayers and professionals.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
