GST Collection 2025 featured

January 2025 GST Collection: A Strong Start to the Year

The Goods and Services Tax (GST) collections for January 2025 have shown a robust growth, reflecting the resilience and recovery of the Indian economy. The total gross GST revenue collected in January 2025 stands at ₹1,95,506 crore, marking a 12.3% increase compared to January 2024. This growth is a testament to the effective implementation of […]

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gst updates budget 2025-26

GST Updates in Budget 2025: New ITC Rules, Penalties & More

The Union Budget 2025-26, presented by Finance Minister Smt. Nirmala Sitharaman, introduces several amendments to the Goods and Services Tax (GST) laws. These changes aim to streamline tax compliance, enhance trade facilitation, and improve tax administration. Here are the key takeaways from the proposed amendments: 1. Distribution of Input Tax Credit for Inter-State Supplies A […]

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gstr 9c late fee waiver till march 2025

Big Relief for Taxpayers: CBIC Waives Late Fees for GSTR-9C

The CBIC issued Circular No. 246/03/2025-GST on January 30, 2025, clarifying the late fees for delays in submitting the reconciliation statement in FORM GSTR-9C. The circular addresses stakeholder concerns about late fees under section 47 of the CGST Act, 2017. Download Updated GSTR-9C Format in Excel & PDF Key Points of the Circular: Conclusion: This […]

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Opt for GST Composition Scheme FY 2025-26: Dates and Benefits

Attention small business owners! The registration window for opting into the GST Composition Scheme for the financial year 2025-26 is closing soon. The window is open from February 4 to March 31, 2025. If you haven’t yet opted for the scheme, now is the time to act. What is the GST Composition Scheme? The GST […]

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gst exemptions on various services 2025

GST Exemption for Payment Aggregators: Circular 245/02/2025

The Ministry of Finance has issued Circular No. 245/02/2025-GST, dated January 28, 2025, providing essential clarifications on the applicability of GST on various services. This circular, based on the recommendations from the 55th GST Council meeting held on December 21, 2024, addresses several key issues. Let’s explore the main points and their implications. Key Highlights […]

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