What are the new rules of GST?
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The new Goods and Services Tax (GST) rules, primarily effective in India in late 2025, focus on rate rationalization, simplified compliance, and the digitalization of processes.
What are the new changes in GST?
GST 2.0: Diwali 2025 Reforms – A Game-Changer for Consumption? The government has announced a major overhaul in the GST system, aimed at simplifying tax rates. The new GST structure will reduce the number of tax slabs to just two — 5% and 18% — replacing the current multi-tier system.
What are the new rules of GST 2025?
Starting September 22, 2025, GST in India will be simplified to primarily two rates: 5% and 18%, with a special 40% rate on luxury and sin goods like tobacco and high-end vehicles. Many essentials, including certain medicines and foods, are now zero-rated, while several items see reduced rates.
What are the changes from 1st July 2025?
What are the new GST rules from July 2025? From 1st July 2025, GSTR-3B cannot be edited after filing. GSTR-1A is introduced for corrections, and GST returns older than 3 years from the due date cannot be filed.
What are the new filing rules for GST?
What is the new 3-year filing rule? Starting from December 1, 2025, the GST portal will bar taxpayers from filing any return that is more than three years past its original due date. This means November 2025 is the last chance to file returns for periods like October 2022 or the FY 2020-21 annual return.
Cash & Gold Limit 2026 | New Income Tax Act 2025 | Heavy Penalty on Unexplained Money
What is the minimum turnover to register for GST?
In conclusion, the minimum GST registration limit for mandatory GST registration in India is Rs. 40 lakh for most businesses, with a lower threshold limit for GST registration of Rs. 10 lakh applicable in special category states.
Is GST still 9% in 2025?
The current standard GST rate in 2025 is 9%. The last GST rate increase in Singapore was from 8% to 9% from 1 January 2024. Imported goods are subject to GST at the standard rate of 9% in Singapore.
What will happen on 6 July 2025?
Ashadhi Ekadashi, also known as Devshayani Ekadashi, will be observed on Sunday, July 6, 2025. The day marks the start of Lord Vishnu's four-month celestial rest. Ashadhi Ekadashi is widely celebrated across India.
Is GST date extended for July 2025?
20th August 2025
Due to the incessant rains in various parts of Maharashtra, the government has extended GSTR-3B due date for July 2025 from 20th August to 27th August 2025.
What changes are coming in April 2025?
Enhanced tax return requirements will be introduced from April 6 and will apply for tax returns for 2025/2026 going forward. The voluntary requirement for taxpayers who start or cease to trade to report the date of commencement / cessation on their tax return will become a mandatory requirement.
Who qualifies for GST 2025?
Eligibility Criteria for the GST/HST Credit Payment 2025
You may qualify for the GST/HST credit payment 2025 if you meet the following conditions: You must be a resident of Canada for income tax purposes. You must be at least 19 years of age before the payment month, or meet other qualifying conditions if younger.
Do I need GST if my turnover is below 20 lakhs?
If a company's annual sales are below Rs. 40 lakhs for goods or Rs. 20 lakhs for services, or if the startup deals in exempt items or services, it is not required to register for GST.
Is GST going to be 10%?
New GST Rate of 9% in 2024
Come 1 Jan 2024, the GST rate will be raised from 8% to 9%, as part of the two-step GST rate change announced by the Minister for Finance in Budget 2022.
What are the new rules for GST from April 1 2025?
Effective April 1, 2025, businesses with an Annual Aggregate Turnover (AATO) exceeding ₹10 crore must report B2B e-invoices to the IRP within 30 days from the invoice date. Previously, this rule applied only to taxpayers with AATO above ₹100 crore.
Is GST payment increasing?
Confirmed GST Payment Increase in 2026
Starting July 2026, GST credit amounts will rise by 2%, based on federal inflation indexation. This ensures that payments stay in line with rising living costs, even as inflation stabilizes.
Is GST 10 or 15 percent?
GST is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia. To work out the cost of an item including GST, multiply the amount exclusive of GST by 1.1. To work out the GST component, divide the GST inclusive cost by 11.
What is the GST threshold for 2025?
Here's what you need to know about the relevant threshold and how it affects your business or enterprise. The GST threshold for 2025 is $75,000 in annual GST turnover for most businesses. If your GST turnover exceeds this amount in any rolling 12-month period, you must register for GST within 21 days.
What is the penalty for filing GST late?
Therefore, upon non –filing of GST returns or missing out the GST due dates, the GST law prescribes a general penalty. The maximum penalty that may be imposed is Rs. 5,000. The taxpayer will be required to pay interest on late payment of GST at a rate of 18% annually in addition to the late payment penalty.
What is the deadline for filing GST return?
For GST, the CRA filing and payment deadline is 3 months after your fiscal year end. For GST filed and paid annually, the CRA payment deadline is April 30 and the filing deadline is June 15.
What is going to happen on 5 June 2025?
About the 2025 theme
This year's World Environment Day observance comes as countries make progress towards securing a global treaty to end plastic pollution, including in the marine environment.
What will happen on 21 Jan 2025?
Today, Pluto is at solar conjunction. This happens when Pluto passes behind the Sun as our orbit around the Sun obscures our view of it. Pluto reaches solar conjunction roughly once a year, similar to the other outer planets as they pass behind the Sun during our yearly orbit around the star.
Is GST going to increase?
GST Rate and Slab Changes in September 2025
90% of items in the current 28% slab are moved to the 18% slab. Almost 99% of the items in the 12% slab are moved to the 5% slab.
Is GST cash payout in 2025?
If you are eligible for the 2025 GST Voucher (GSTV) – Cash and/or GSTV – MediSave and have signed up for a previous Government payout (e.g., 2024 GSTV), you will automatically receive your 2025 GSTV – Cash and/or GSTV – MediSave in August 2025. No further action is required on your part.
How do I avoid 9% GST on SG Custom?
How to Avoid GST on Overseas Purchases Legally
- You are 18 or older.
- You are not arriving from Malaysia.
- You have been outside of Singapore for 48 hours or more.
- You are importing an allowable product for your personal use.