🧾 New GST & Income Tax Rules from 1st July 2025

– A Simple Guide by IndiaFills.com

From 1st July 2025, several important changes in GST and Income Tax have come into effect. These updates will impact salaried individuals, business owners, and common taxpayers.

At IndiaFills.com, our goal is to keep you informed and compliant in a simple and affordable way.

📌 What Changed in GST Rules?

✅ 1. GST Rates Adjusted

Some GST rates have increased or decreased by 2% depending on the product category:

Milk, rice, and basic items remain tax-free.
Electronic gadgets, cosmetics, digital services might have updated rates.

👉 Tip: Check your purchase bills to see if GST rates have changed.

✅ 2. GSTR-3B Filing Date Changed

New due date: 20th of every month (was 25th earlier).
Gives businesses more time to file without stress.

✅ 3. Late Fee Reduced

Late fee for GST returns now: ₹200 per day, max ₹5,000.
(Earlier it was ₹500/day.)

👉 Small businesses save more!

💰 Income Tax Rule Updates

✅ 1. Revised Tax Slabs

Income limits increased slightly—meaning you may fall in a lower tax slab now.
For example, earlier 10 lakh bracket may now go up to ₹10.5 lakh.

✅ 2. Higher Standard Deduction

Standard deduction increased from ₹70,000 to ₹75,000.

👉 This means higher take-home salary for salaried individuals.

✅ 3. New Rebate

For income up to ₹7.5 lakh, an extra rebate of ₹2,500 is available.
Many taxpayers may end up paying zero tax.

🎉 Good News: Income Tax Refunds Have Started for AY 2025-26!

If you have already filed your Income Tax Return for AY 2025-26, here’s the good news:
Refunds have started coming in!

✔️ The Income Tax Department has begun processing ITRs filed under both new and old tax regimes.
✔️ Refunds are being credited to bank accounts within 10–15 working days in most cases.

👉 If you haven’t filed yet, don’t wait. File now and get your refund faster!

🧑‍💼 Who Benefits the Most?

✔️ Salaried individuals – more savings
✔️ Shop owners & traders – easier GST return filing
✔️ MSMEs & Startups – reduced penalties, more automation