HENCY R SHAH AND ASSOCIATES

𝗚𝗦𝗧 𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁𝘀 𝗨𝗻𝗱𝗲𝗿 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗔𝗰𝘁 𝟮𝟬𝟮𝟱: 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗜𝗺𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 𝗳𝗿𝗼𝗺 𝟭 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟮𝟬𝟮𝟱 📊 The Finance Act, 2025, notified by the Central Board of Indirect Taxes and Customs (CBIC) through Notification No. 16/2025 – Central Tax, brings critical GST law amendments into force from 1 October 2025. These changes—spanning input tax credit (ITC) rules, return filing, appeal mechanisms, compliance measures, and the launch of a dedicated appellate tribunal—aim to fortify revenue protection, streamline dispute resolution, and leverage technology for efficient tax administration. 𝘒𝘦𝘺 𝘗𝘰𝘭𝘪𝘤𝘺 𝘊𝘩𝘢𝘯𝘨𝘦𝘴 𝘢𝘯𝘥 𝘐𝘮𝘱𝘢𝘤𝘵𝘴 𝟭. 𝗦𝘁𝗿𝗶𝗰𝘁𝗲𝗿 𝗜𝗻𝗽𝘂𝘁 𝗧𝗮𝘅 𝗖𝗿𝗲𝗱𝗶𝘁 𝗥𝗲𝗴𝗶𝗺𝗲   • Amendments to Section 121 introduce tightened documentation and reversal requirements for unmatched or disputed invoices.   • Only invoices reflected in the recipient’s GSTR-2B (accepted through the Invoice Management System)...

 🚀 𝗣𝗿𝗲𝗽𝗮𝗿𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗳𝗼𝗿 𝗚𝗦𝗧 𝟮.𝟬: 𝗕𝗲 𝗥𝗲𝗮𝗱𝘆 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗕𝗶𝗴 𝗦𝗵𝗶𝗳𝘁 𝗳𝗿𝗼𝗺 𝟮𝟮 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 The rollout of GST 2.0 is set to transform India’s indirect tax framework, with new rate revisions effective from 22 September. For businesses, this is not just about compliance—it’s about adapting quickly, minimizing disruptions, and leveraging the change as an opportunity to streamline operations. Here’s a step-by-step guide to help your business get GST 2.0 ready 👇 📊 𝟭. 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝘁𝗵𝗲 𝗡𝗲𝘄 𝗚𝗦𝗧 𝗥𝗮𝘁𝗲 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 • Review the revised tax schedule carefully. • Map your products/services to the updated GST rates. • Identify areas where rate changes could impact pricing, margins, and cash flows. 💻 𝟮. 𝗨𝗽𝗱𝗮𝘁𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 & 𝗘𝗥𝗣 𝗦𝘆𝘀𝘁𝗲𝗺𝘀 • Configure ERP/accounting software with new GST codes from 22 September. • Ensure invoicing and return filing reflect the revised rates. • Run ...

 📌 𝗪𝗵𝗼 𝗠𝘂𝘀𝘁 𝗙𝗶𝗹𝗲 𝗜𝗧𝗥 & 𝗪𝗵𝗮𝘁 𝗛𝗮𝗽𝗽𝗲𝗻𝘀 𝗜𝗳 𝗬𝗼𝘂 𝗗𝗼𝗻’𝘁 (𝗙𝗬 𝟮𝟬𝟮𝟰-𝟮𝟱 | 𝗔𝗬 𝟮𝟬𝟮𝟱-𝟮𝟲) Every year, millions of taxpayers wait till the last moment to file their Income Tax Returns (ITR). But do you really know who must file and what’s at stake if you skip it? Let’s break it down. ✅ 𝗪𝗵𝗼 𝗦𝗵𝗼𝘂𝗹𝗱 𝗙𝗶𝗹𝗲 𝗜𝗧𝗥? 𝘉𝘢𝘴𝘦𝘥 𝘰𝘯 𝘈𝘨𝘦 & 𝘐𝘯𝘤𝘰𝘮𝘦 𝘓𝘪𝘮𝘪𝘵𝘴 𝗕𝗲𝗹𝗼𝘄 𝟲𝟬 𝘆𝗲𝗮𝗿𝘀: Income above ₹2.5 lakhs (Old regime) or ₹3 lakhs (New regime). 𝗦𝗲𝗻𝗶𝗼𝗿 𝗖𝗶𝘁𝗶𝘇𝗲𝗻𝘀 (𝟲𝟬–𝟴𝟬 𝘆𝗲𝗮𝗿𝘀): Income above ₹3 lakhs (both regimes). 𝗦𝘂𝗽𝗲𝗿 𝗦𝗲𝗻𝗶𝗼𝗿 𝗖𝗶𝘁𝗶𝘇𝗲𝗻𝘀 (𝟴𝟬+ 𝘆𝗲𝗮𝗿𝘀): Income above ₹5 lakhs. 𝗡𝗥𝗜𝘀: Income above ₹2.5 lakhs (Old) or ₹3 lakhs (New). 𝘌𝘷𝘦𝘯 𝘐𝘧 𝘐𝘯𝘤𝘰𝘮𝘦 𝘐𝘴 𝘉𝘦𝘭𝘰𝘸 𝘵𝘩𝘦 𝘛𝘩𝘳𝘦𝘴𝘩𝘰𝘭𝘥, 𝘠𝘰𝘶 𝘔𝘶𝘴𝘵 𝘍𝘪𝘭𝘦 𝘐𝘧: Bank deposits exceed ₹50 lakhs in a year. Current account deposits cross ₹1 crore. Annual business turnover is above ₹60 lakhs. Professional income exc...

  📌 GST Rate Reset: Old vs New — What It Means for You Every Indian consumer and business will feel the pulse of GST 2.0 , as the latest Council decisions overhaul rates across essentials, lifestyle goods, and luxury items. Here’s the big picture 👇 🍞 Food & Essentials UHT Milk, Paneer, Pizza bread, Khakhra → From 5%/18% ➝ Nil Parathas & Indian breads → 18% ➝ Nil Butter, Ghee, Cheese, Nuts, Dry Fruits → 12% ➝ 5% ✅ Result: Kitchen staples and healthy foods become lighter on the wallet. 🚜 Agriculture & Fertilizers Diesel engines, Pumps, Sprinklers, Tractors → 12% ➝ 5% Fertilizers, Micronutrients → 18% ➝ 5% 🌱 Result: Lower input costs for farmers = reduced inflation in food supply. 💊 Health & Education Life-saving drugs & equipment → 12%/5% ➝ Nil Oxygen, diagnostic kits, medical devices → 12% ➝ 5% 📚 Erasers, Maps, Notebooks → 5%/12% ➝ Nil ❤️ Result: Healthcare & learning made more affordable. 🛍️ Everyday Household Item...