Recent GST-Related Developments

Posted by admin on 2025-12-15 05:23:22 |

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 35

Recent GST-related developments highlight major improvements in compliance and taxpayer convenience. The ICAI has released a revised GSTR-9C guide along with updated FAQs on GSTR-9/9C under GST 2.0, providing greater clarity on annual return filing and reconciliation procedures. Taxpayers have been urged to update their bank account details on the GST portal to prevent auto-suspension under Rule 10A. Digital payment options have also expanded, with UPI and card-based GST payments now enabled across several states, enhancing ease of payment. New GST registrations are now being auto-approved within three working days, and deadlines for GSTR-3B filing have been extended wherever applicable. GST collections continue to reflect steady growth, indicating improved compliance and economic activity. Additionally, the GSTN has issued fresh advisories concerning the Input Mismatch System (IMS), pending return follow-ups, and risk-based refund processing to ensure a smoother and more transparent compliance experience for taxpayers.

? Major Tax Update: GST Slab Rationalization (GST 2.0)

A landmark overhaul of the Goods and Services Tax structure, referred to as GST 2.0, became effective on September 22, 2025. This reform aims to simplify compliance, reduce household expenses for essentials, and maintain higher taxes on luxury/sin goods.

The multi-tier structure has been streamlined into three primary tax slabs: 0% (Nil-rated), 5%, 18%, and a new 40% high-rate slab.