GST Compliance Updates: New Rules for E-Invoicing

The GST portal has enabled Form GSTR-9 (annual return) and Form GSTR-9C (reconciliation) for FY 2024–25; taxpayers can now file and reconcile returns ahead of the December 31, 2025 deadline.

The Reserve Bank of India decided to maintain the repo rate at 6.5% during the latest monetary policy meeting on October 10, 2025, amid inflationary pressures.

The Income Tax Department has announced revised deadlines for filing tax returns for the assessment year 2025-26. Individual taxpayers must submit their returns by December 31, 2025, while businesses have until January 15, 2026.

This extension aims to accommodate taxpayers facing challenges due to the recent economic fluctuations. The government encourages all taxpayers to complete their filings in advance to avoid last-minute issues.

"We understand the pressures faced by taxpayers and are making these adjustments to facilitate compliance," stated a senior official from the Income Tax Department.

The Goods and Services Tax (GST) Council has introduced significant changes to the e-invoicing rules aimed at streamlining compliance for businesses. Starting from January 2026, all registered businesses with a turnover exceeding ₹10 crores must adopt e-invoicing.

The Securities and Exchange Board of India (SEBI) has unveiled a comprehensive framework aimed at strengthening the resilience of Indian markets by 2030. This initiative will focus on enhancing technology, governance, and the ease of doing business within the financial sector. The plan includes increasing investor confidence through improved regulatory measures and technological advancements.

In a significant market move, UTI Asset Management has decided to halt new investments in its Silver Exchange Traded Funds (ETFs), following similar actions taken by Kotak Mahindra Asset Management. This suspension comes in the wake of soaring silver prices, which have recently reached record highs, raising concerns about market volatility and investor sentiment.

ED has arrested two Chartered Accountants and a cryptocurrency trader for operating cyber scam racket of Rs 640 crores. The racket was being handled and supported by several CA, CS, cyptocurrency traders and foreing handlers. Scam includes time job scam, betting, gambling and various kind of phishing scams.

Nirmala Sitaraman presented Banking Laws Amendment Bill 2024 in Lok Sabha and the same got passed by a voice vote on 3rd Dec 2024. Opposition parties members' called the bill a step towards privatisation.

Recently on CBI convicted two Income Tax Practitioners for fraudulently obtaining TDS refunds using fake certificates. CBI imposed 2 years Jail and fine of Rs.60,000.

Indian govt earned an amount of Rs. 1.87 lakh crore from GST as of Nov 2024 which represents growth of 8.5% yoy. GST collected by the government in Nov2023 was 1.68 lakh crore rupees. Likewise, so far in this financial year under review i.e., 2024-25 a total amount of Rs14.56 lakh crore have been secured from GST collection.

The CBDT extends due date of furnishing of Return of Income under sub-section (I) of section 139 of the Act via form 3CEB for the Assessment Year 2024-25 in the case of assesses referred to in clause (aa) of Explanation 2 to sub-section (1) of section 139 of the Act.

Reschedulement of Chartered Accountants Jan 25 examination. 

PAN card with QR code soon as government approves INR 1,400 crore revamp project.

The GST annual return form, GSTR-9, has undergone a key update for the financial year 2023-24. These changes, particularly related to Input Tax Credit (ITC), could lead to mismatches if not handled carefully. Understanding and adapting to these changes is essential to avoid complications during filing.

Find here the upcoming  important GST due dates that you must know.