29 Oct, 2025
Published on: 29th October 2025Category: Income Tax UpdatesAuthor: EFILETAX Team 🏛️ Overview In a significant relief to taxpayers and professionals, the Central Board of Direct Taxes (CBDT) has officially announced the extension of due dates for filing the Income Tax Return (ITR) and Audit Report for Assessment Year (AY) 2025-26. The decision was conveyed through […]
Read More20 Sep, 2025
The 56th GST Council has simplified GST into a core two‑slab structure (5% and 18%) plus a top 40% slab for luxury/sin goods, effective 22 September 2025. The reform removes the earlier 12% and 28% slabs in most cases, reducing classification disputes and compliance cost, while protecting revenue through a higher top rate for luxury […]
Read More17 Sep, 2025
Introduction The GST Council has notified a new GST rate structure on goods, effective from 22nd September 2025, via Notification No. 09/2025-Central Tax (Rate). The revised framework consolidates tax into seven slabs. This change impacts everything from daily essentials to luxury goods, and businesses must realign pricing, invoicing, and IT systems accordingly. The 7 GST […]
Read More05 Sep, 2025
Major GST Rate Overhaul Takes Effect September 22, 2025 Indian taxpayers and businesses face significant changes as GST rate changes September 2025 reshape the indirect tax landscape. The 56th GST Council meeting has approved comprehensive rate rationalization affecting everything from daily essentials to luxury automobiles, fundamentally altering compliance requirements for millions of registered taxpayers. The […]
Read More03 Sep, 2025
The 56th meeting of the GST Council, chaired by Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman, was held today in New Delhi. These GST rate changes 2025 align with Prime Minister Shri Narendra Modi’s vision from his Independence Day address on August 15, 2025, introducing next-generation GST reforms. This strategic, citizen-centric evolution of […]
Read More03 Sep, 2025
The GST Council 56th meeting reforms 2025 mark a turning point in India’s indirect tax system, held on 3rd September 2025 in New Delhi PIB Press Release, marks a historic milestone in India’s tax landscape. The reforms, described as the “next-generation GST,” reflect the government’s strategic move towards a simpler, citizen-centric, and business-friendly tax system. […]
Read More25 Aug, 2025
Many Indian taxpayers confuse Section 44AD vs 44ADA while filing returns. A simple error — like declaring professional income under Section 44AD instead of 44ADA — can trigger AI-based scrutiny, notices under Section 142(1), and penalties. This blog explains the difference, real-life consequences, and how to avoid such costly mistakes. Difference Between Section 44AD and […]
Read More16 Aug, 2025
A Festival Gift in the Form of Simplified Tax? As Diwali 2025 approaches, the Indian government is preparing a significant restructuring of the Goods and Services Tax (GST) system. According to NDTV Profit, a proposal is underway to replace the existing four-slab system with a simplified two-slab structure of 5% and 18%, eliminating the 12% […]
Read More16 Aug, 2025
Filing your income tax returns can be overwhelming. However, if you’ve incurred a business loss, understanding your carry forward rights can significantly ease your tax burden. If you’re into F&O (Futures and Options) trading or run any kind of business, understanding how long such losses can be carried forward is essential for effective tax planning. […]
Read More13 Aug, 2025
GST profiteering case: Subway franchisee directed to repay GST benefit In a recent ruling, the GST Appellate Tribunal (GSTAT) ordered a Subway franchisee to deposit over ₹41 lakh for profiteering — that is, for not passing on the benefit of a GST rate cut to customers. This order reinforces the anti-profiteering provisions under Section 171 […]
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