India’s Goods and Services Tax (GST) regime continues to evolve, aiming to simplify compliance and boost transparency. Here are the latest key updates in GST as of June 2025 that businesses and tax professionals should take note of:
🔹 1. GST Annual Return (GSTR-9) Due Date Extended
The CBIC has extended the due date for filing GSTR-9 and GSTR-9C for FY 2023-24 to August 31, 2025. This gives businesses more time to reconcile and file accurate returns.
🔹 2. New Rule on ITC Matching (Rule 88D)
The government has implemented a stricter Input Tax Credit (ITC) mismatch alert system. If there is a mismatch between GSTR-2B and GSTR-3B, taxpayers will receive alerts, and unmatched credits must be explained or reversed.
🔹 3. E-Invoicing Threshold Lowered
Starting July 1, 2025, e-invoicing will be mandatory for businesses with turnover above ₹3 crore (earlier ₹5 crore). Businesses must upgrade their systems to generate IRNs for every B2B invoice.
🔹 4. GST Amnesty Scheme Extended
The government has extended the GST amnesty scheme for non-filers and late filers till September 30, 2025, with reduced late fees for pending returns from previous years.
🔹 5. Clarification on Place of Supply for Services
CBIC has issued a fresh clarification to address confusion around place of supply rules, especially for cross-border services, affecting IT, consulting, and export-oriented units.
💡 FinTax Pro Insight:
Staying updated on these changes is crucial for smooth business operations and avoiding penalties. Our team at FinTax Pro is here to assist you with timely return filing, ITC reconciliation, and compliance management.
📞 Need Help with GST? Contact us today to stay ahead of the curve.
No responses yet