The Ministry of Law & Justice issues corrigenda to the Income-tax Act, 2025, correcting typographical errors and replacing "previous year" with "tax year," ensuring accuracy ahead of its April 1, 2026 rollout.
CBDT issues Circular No. 11/2025 extending the tax-free investment window under Section 10(23FE) from March 2025 to March 2030, boosting infrastructure funding in India.
Income Tax Act, 2025 takes effect from April 1, 2026, simplifying laws, defining 'Tax Year,' recognizing VDAs, and ensuring transparency & digital compliance.
GST undergoes Next-Gen reforms with a simplified 2-slab structure (5% & 18%), rate cuts on essentials, medicines, cars, cement and farm equipment, plus 40% tax on luxury/sin goods.
The Government has allowed a one-time, one-way switch from the UPS to the NPS for eligible Central Government employees under specific conditions. Employees must exercise this option by 30th September 2025
GST Council approves risk-based 90% provisional refunds for zero-rated supplies including exports & SEZ supplies, effective Nov 1, 2025
GST Council clears risk-based provisional refunds for inverted duty structure; 90% refund to be sanctioned from Nov 1, 2025 for faster liquidity
GST Council removes threshold for refunds on low-value export consignments, helping small exporters using courier and postal modes claim benefits
Small Businesses to Benefit as GST Council Approves Automated Registration in 3 Days
"GST Council approves simplified registration scheme for small e-commerce suppliers, easing compliance and boosting MSME participation nationwide
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