🇮🇳 GSTIN & Tax Updates – India (May 2025) 🧾 1. New...

🇮🇳 GSTIN & Tax Updates – India (May 2025) 🧾 1. New GST Return Filing System (Effective April 2025) GSTR-3B auto-drafted from GSTR-1 and GSTR-2B: Taxpayers must validate and submit, reducing manual errors. Monthly and quarterly filing timelines remain unchanged, but auto-population has improved. 🔄 2. GSTIN Cancellation Drive – Compliance Push The government has launched a drive to cancel dormant or non-compliant GSTINs. Focus on: Non-filers of GSTR-3B for more than 6 months. Mismatch in turnover reported in ITR vs GSTR-1. Action for non-compliance: Temporary suspension → Final cancellation. Affected businesses must respond via REG-18 form. 💼 3. GST Amnesty Scheme 2025 (Limited Period Offer) Late fees waiver and reduced penalties for non-filers and delayed filers (for FYs up to 2023–24). Scheme open until June 30, 2025. Encourages small businesses to regularize past defaults. 📌 4. Mandatory Aadhaar Authentication for GST Registration From April 1, 2025, Aadhaar authentication is mandatory for all new GST registrations. PAN + Aadhaar-based verification reduces fake GSTINs. 🔍 5. Enhanced GSTIN Verification on E-Invoices Real-time GSTIN validation API for businesses generating high-volume e-invoices. Reduces invoice rejection and errors due to fake GSTINs. 📊 6. New Taxpayer Classification: Small Taxpayers (Turnover < ₹5 Cr): Allowed quarterly returns, monthly payments under QRMP scheme. Large Taxpayers (> ₹5 Cr): Must use e-invoicing and e-way bills for B2B transactions. Auto-calculation of ITC (Input Tax Credit) based on vendor compliance. 🔗 7. GSTN Portal Updates Portal now shows GST health rating for each taxpayer (compliance, return filing, invoice matching). Helps vendors assess risk before doing business. 📅 Upcoming GST Deadlines (June 2025) Return Type Period Due Date GSTR-1 (Monthly) May 2025 June 11, 2025 GSTR-3B May 2025 June 20, 2025 GSTR-4 (Composition Dealers – Annual) FY 2024-25 June 30, 2025