India to Roll Out Simplified GST Registration from November 1, 2025 — Major Relief for Small Businesses

CGST Delhi South Commissionerate has busted a fake Input Tax Credit racket valued at ₹31.95 crore, where ITC was availed on invoices without actual supply of goods. The director of the firm has been arrested.

In a sweeping investigation, the Income-Tax Department has revealed a donations racket of over ₹ 5,500 crore involving shell political parties, suspect donors and round-trip money flows. The probe flags serious issues in political funding and tax deduction misuse.

Starting November 2025, a number of important financial rules have come into force which will directly impact bank customers, Aadhaar card holders, pension beneficiaries, SBI credit card users, and businesses applying for GST registration. These updates have been implemented to simplify compliance, enhance security, and streamline financial procedures. Here is a detailed look at the major changes you need to be aware of:

1. Bank Nomination Rules Simplified

Banks have introduced a more flexible nomination system for savings accounts, fixed deposits, lockers, and safe custody items. Customers can now nominate up to four individuals for the same account or locker, instead of being restricted to a single nominee.

Each nominee can be assigned a specific percentage share.

Updating or modifying nominee details has been made easier through both online and branch channels.

Why it matters:

This ensures clarity in asset transfer and helps avoid disputes among legal heirs.

2. Aadhaar Update Process Made More Convenient

The UIDAI has rolled out a simplified update system for Aadhaar details.

Name, address, and mobile number can now be updated online without mandatorily uploading supporting documents.

Biometric updates such as fingerprint or iris scans will still require an in-person visit.

Updated fee structure:

₹75 for demographic updates

₹125 for biometric updates

Who should act:
 

Individuals who have relocated, changed their mobile numbers, or need to ensure accurate identification for banking, telecom, and government services.

3. Pensioners Must Complete Annual Life Certificate Submission

Pensioners are required to submit their Annual Life Certificate this month to continue receiving uninterrupted pension benefits. Submission can be done at bank branches, post offices, the Jeevan Pramaan portal, or doorstep services for senior citizens.

4. SBI Credit Card Charges Revised

State Bank of India (SBI) has revised certain transaction charges for its credit card users.

A 1% fee will now apply on:

Wallet top-ups above ₹1,000

Education-related payments processed through third-party apps

These charges will be shown in the billing cycle along with applicable taxes.

Impact:

Users frequently topping up wallets or paying school/college fees via credit card apps may see higher monthly expenses.

5. GST Registration Gets Streamlined for Businesses

Small businesses applying for new GST registration will experience a more simplified verification system.

The new system focuses on reducing bottlenecks, improving approval time, and lowering the dependency on physical verification in many cases.

Why this matters:

This is beneficial for startups, freelancers, online sellers, and small traders looking to formalize operations.

Conclusion

These financial rule changes aim to make banking, identity verification, pension management, and business compliance more transparent and user-friendly. However, some fee revisions—such as those on SBI credit cards—mean consumers should review their transaction habits to avoid additional costs.

As per the Finance Act,2023 (8 of 2023), dt. 31-03-2023, implemented w.e.f 01-10-2023 vide Notification No. 28/2023 – Central Tax dated 31th July, 2023, the taxpayers shall not be allowed file their GST returns after the expiry of a period of three years from the due date of furnishing the said return under Section 37 ( Outward Supply), Section 39 (payment of liability), Section 44 ( Annual Return) and Section 52 (Tax Collected at Source). These Sections cover GSTR-1, GSR-1A, GSTR 3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR 7, GSTR 8 and GSTR 9 or 9C.

Hence, above mentioned returns will be barred for filing after the expiry of three years from the due date. The said restriction will be implemented on the GST portal from November 2025 Tax period which means any return whose due date was three years back or more and hasn’t been filed till November Tax period will be barred from Filling. In this regard an advisory was already issued by GSTN on 29th October, 2024.

The Central Board of Direct Taxes (CBDT) has decided to extend the due date of furnishing of Return of Income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26, which is 31st October 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to 10th December 2025.

The ‘specified date’ of furnishing of the report of audit under the provisions of the Income-tax Act, 1961, for the Previous Year 2024-25 (Assessment Year 2025-26), in the case of assessees referred to in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, originally due on 30th September 2025, was extended to 31st October 2025. The Central Board of Direct Taxes has decided to further extend the said ‘specified date’ from 31st October 2025 to 10th November 2025.

The Gujarat High Court (HC) has directed the Central Board of Direct Taxes (CBDT) to extend the ITR filing deadline for taxpayers under audit to 30 November 2025. The court has stressed the legal requirement of a one-month interval between the audit report deadline and the return-filing date, and has asked the CBDT to issue the extension circular by 16 October and report back.

The Punjab & Haryana High Court has taken serious notice of the delay by the CBDT in formally extending the ITR filing deadline for audited taxpayers. The Court has stated that non-compliance with directions issued by another High Court could lead to contempt proceedings.

The Centre has announced that there will be no additional GST on tobacco and related products. Instead, to preserve the tax burden level, an additional central levy outside the GST framework will be introduced. This move coincides with the nearing sunset of the GST compensation-cess regime, and aims to secure revenue from high-yield “sin” products while simplifying classification under the GST regime. The effective tax incidence on tobacco items remains around 53 %, and about 88 % for pan masala

India’s GST system is set for a major ease-of-doing-business reform from November 1, 2025, as the Finance Ministry rolls out an automatic GST registration process under the GST 2.0 reforms.
Low-risk businesses with monthly tax liabilities under ₹2.5 lakh will get auto-approval within three working days, eliminating long waits and reducing compliance hurdles.
The move is expected to benefit over 96% of new GST applicants, particularly MSMEs and startups, signalling the government’s push toward a faster, digital, and trust-based tax ecosystem.

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.