MCA Cir. 05/2025: Relief for Directors DIR-3 KYC Deadline Extended to Oct 31st

 The Ministry of Corporate Affairs (MCA) has decided to extend the deadline for submitting these important forms, DIR-3 and DIR-3 KYC Web, without any additional fees. Instead of the earlier deadline of September 30, 2025, directors can now file their forms during this new two-week period.

GST Rate Impact on the Cars Purchase and Its Accessories

On September 3, 2025, the 56th Goods and Services Tax (GST) Council meeting took place, and it introduced important changes that affected car and motorcycle buyers at the transportation industry. These changes are designed to make the tax system simpler and lessen the financial burden on consumers and businesses that purchase cars and other vehicles. On Automobiles industry, the new GST rate on cars, accessories and motorcycle has been effective on September 22, 2025.

CBDT Revises Due Date for Tax Audit Reports: October 31, 2025 (AY 2025–26)

 The CBDT has announced that taxpayers now have an extra month to file their tax audit reports for the Assessment Year 2025–26. The deadline is October 31, 2025, instead of the original date of September 30, 2025.

GST 2.0: Revised Slab Rates (5%, 18%, 40%) by Council

The Goods and Services Tax (GST) has changed the way India's economy works, representing the biggest tax reform in the country's history. It simplified things by replacing various complicated taxes with just one tax that everyone across the country pays.