by Jobuza Team | Sep 10, 2025 | BLOG, Trending News
ITR Filing Rules 2025: 5 Types of People Who Must File ITR Even with Zero Income
ITR Filing 2025: Many people believe that if their annual income is below the tax exemption limit, they don’t need to file an Income Tax Return (ITR). But this is not always true.
The Income Tax Department has made it clear that in some cases, filing ITR is compulsory, even if your income is less than ₹2.5 lakh (Old Regime) or ₹3 lakh (New Regime). Ignoring these rules can lead to penalties or even a legal notice.
Here are the five situations where filing ITR is mandatory, even with zero taxable income.
1. Depositing ₹1 Crore or More in a Current Account
If you deposit ₹1 crore or more in your current account during a financial year, you must file ITR.
This rule applies to both cash and digital deposits. The Income Tax Department uses this information to track high-value transactions and prevent tax evasion.
2. Spending ₹2 Lakh or More on Foreign Travel
If your foreign travel expenses are ₹2 lakh or more in a year, you have to file ITR.
It doesn’t matter whether the trip is personal or business-related. This rule helps the government track big-ticket expenses and ensure income reporting is accurate.
3. Paying More Than ₹1 Lakh in Electricity Bills
If your total electricity bill for the year is above ₹1 lakh, filing ITR becomes compulsory.
This rule targets people whose lifestyle expenses are higher than their declared income. It helps the tax department identify mismatches between income and spending.
4. TDS Deduction of ₹25,000 or More
If TDS (Tax Deducted at Source) of ₹25,000 or more has been deducted from your income in a financial year, you must file ITR.
For senior citizens, the limit is ₹50,000. Since tax has already been deducted, the government requires you to report your income officially.
5. Owning Foreign Property or Bank Accounts
If you own property abroad or have signing authority in a foreign bank account, you are required to file ITR.
You also need to declare details of any foreign income, property, or assets while filing your return.
Final Words
Even if your income is below the tax exemption limit, you might still need to file ITR under certain circumstances.
Doing so not only keeps you compliant with the law but also helps you maintain a clean financial record. This is useful when applying for loans, visas, or other financial services in the future.
by Jobuza Team | Sep 9, 2025 | BLOG, Trending News
GST 2.0: Check Which Items Have Become Cheaper and How to Know Your Savings
The Government of India has introduced GST 2.0, a simplified tax structure aimed at reducing the burden on consumers. Under this new system, taxes on small vehicles, household goods, education services, and healthcare have been reduced significantly.
To make things easier for consumers, the government has launched a dedicated website savingswithgst.in. Through this platform, you can check and compare product prices before and after the revised GST rates come into effect on September 22, 2025.
GST 2.0: What’s New in the Tax System
The central government has introduced several major changes under GST 2.0 to bring relief to the poor and middle class. The MyGov platform has launched a special website that lets consumers calculate their savings easily.
This platform allows you to check prices across multiple categories, including:
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Food products
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Breakfast items
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Household goods
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Home electronics
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Kitchen essentials
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Entertainment products
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Lifestyle items
According to MyGovIndia, GST 2.0 is the next-generation GST. Consumers can simply add products to their cart on the website to see the price difference before and after GST rate cuts.
How to Check Which Items Are Cheaper
The government has made it simple for consumers to find out how much they can save under GST. Follow these steps:
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Visit the official website: savingswithgst.in
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Add your preferred products to the shopping cart.
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The cart will display:
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Base Price (original price)
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Price under VAT (before GST reforms)
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Price under Next-Gen GST (after reforms)
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Compare the prices to see your savings instantly.
For example:
If you add milk priced at ₹60 per liter, the website will show:
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Price with VAT: ₹63.6
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Price under GST 2.0: ₹60
This way, you can easily calculate your real-time savings.
Everyday Essentials Get Cheaper Under GST 2.0
With the new GST reforms, many daily-use items have become more affordable:
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Zero GST: Ultra-high temperature (UHT) milk, packaged paneer, chhena, and all Indian breads.
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5% GST: Soap, shampoo, toothbrush, toothpaste, tableware, bicycles, and other household products.
This move directly reduces household expenses and benefits millions of families.
Only Two Tax Slabs
Under GST 2.0, the GST Council has approved a simplified two-slab system:
Additionally:
All these changes will come into effect from September 22, 2025.
Why GST 2.0 Matters
The Next-Gen GST reform was announced by Prime Minister Narendra Modi during his Independence Day speech and is considered one of the biggest tax reforms in recent years.
By reducing taxes on essential products and packaged food, GST 2.0 aims to:
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Lower household expenses
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Provide direct savings to consumers
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Simplify the overall tax structure
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Improve price transparency for everyday items
Conclusion
The launch of GST 2.0 marks a major step towards a consumer-friendly tax system. With reduced taxes on essential goods and an easy-to-use website, you can now check your savings from the comfort of your home.
Visit savingswithgst.in to see which items have become cheaper and start planning your budget better.
by Jobuza Team | Sep 9, 2025 | BLOG, Trending News
Electricity Bills to Get Cheaper from This Month
There’s good news for households — electricity bills are expected to come down starting this month. The recent GST reduction on renewable energy equipment has lowered production costs, which means energy companies can now supply power at more affordable rates.
GST Cut to Reduce Power Costs
The GST on renewable energy equipment has been slashed from 12% to 5%. Because of this, costs for plant construction, engineering, and procurement will drop from 13.8% to 8.9%.
This will directly reduce the cost of electricity generated from renewable sources by 4-5%, which could save consumers 10 to 14 paise per unit.
Boost for Green Energy
Cheaper renewable energy will increase demand for green electricity. Power distribution companies (Discoms) are expected to see more usage, while businesses will get easier and cheaper access to renewable energy through open access systems.
This will also encourage more investment in renewable energy projects and help strengthen India’s clean energy sector.
Benefits for Power Developers
According to experts, the overall cost of new projects will drop by 4-7%. As a result, the return on investment for developers could rise by 100 to 200 basis points.
However, there could be a small drawback — lower GST means reduced input tax credit for producers, which might affect their margins.
Cheaper Coal-Based Power Too
Even coal-based power generation will become less expensive. While the GST on coal has increased from 5% to 18%, the cess of ₹400 per ton has been removed.
This change will lower coal-based electricity costs by over 10 paise per unit, depending on coal quality. Since coal contributes around 73% of India’s power supply, this will significantly reduce overall electricity costs.
What Consumers Can Expect
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Lower electricity bills for households
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Reduced production costs for energy companies
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More affordable access to green energy
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Higher investments in the power sector
With these changes, consumers are likely to see noticeable savings on their electricity bills in the coming months.
by Jobuza Team | Sep 8, 2025 | BLOG, Trending News
UPI Transaction Limits for Special Merchants to Increase from September 15: All You Need to Know
UPI Transaction Limits: The National Payments Corporation of India (NPCI) has announced a major change to the Unified Payments Interface (UPI) system. Starting September 15, 2025, verified merchants in select categories will be allowed to process higher-value UPI transactions, making digital payments even more seamless.
Under the new guidelines, eligible merchants can now accept UPI payments up to ₹5 lakh per transaction, depending on their sector. The move comes as UPI continues to dominate India’s digital payments landscape, crossing 20 billion transactions in August 2025, worth over ₹25 lakh crore.
Higher UPI Limits from September 15
According to an NPCI circular issued on August 28, 2025, the increased UPI limits will apply to multiple categories, but only for verified merchants who comply with NPCI’s guidelines.
Acquiring member banks will be responsible for enabling these enhanced limits. However, banks will have the right to set their own internal ceilings within the NPCI-prescribed range.
Updated UPI Transaction Limits by Category
₹5 Lakh Per Transaction
The following sectors can process UPI payments of up to ₹5 lakh per transaction:
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Capital markets
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Insurance
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Government e-Marketplace (GeM)
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Travel bookings
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Credit card bill payments
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Collections and business/merchant payments (including pre-approved payments)
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Foreign exchange retail transactions via BBPS
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Digital account openings for term deposits
₹2 Lakh Per Transaction
A transaction limit of ₹2 lakh will apply to:
Cumulative UPI Limits
In addition to per-transaction limits, NPCI has also set cumulative limits for specific categories:
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Capital markets, insurance, travel, collections, and government e-marketplace: ₹10 lakh cumulative limit
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Credit card bill payments: ₹6 lakh cumulative limit
These measures are designed to maintain security while allowing users and merchants greater flexibility for high-value UPI transactions.
Implementation and Compliance
NPCI has directed all banks, payment apps, and service providers to update their systems by September 15, 2025 to comply with the new transaction limits.
This update reflects the rapid evolution of India’s digital payment ecosystem. UPI’s record-breaking 20 billion transactions in August 2025 demonstrates its growing importance in everyday payments, business transactions, and high-value purchases.
Key Takeaway
From September 15, 2025, verified merchants in several sectors will benefit from higher UPI transaction limits — up to ₹5 lakh per transaction for select categories and ₹2 lakh for others.
With UPI crossing ₹25 lakh crore in monthly transaction value, this move strengthens India’s position as a global leader in digital payments while giving merchants and consumers more flexibility for big-ticket purchases.
by Jobuza Team | Sep 8, 2025 | BLOG, Trending News
GST 2.0 Gets the Green Light: What Becomes Cheaper and Costlier from September 22
GST New Rates: The 56th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman on September 3, 2025, has paved the way for one of the biggest overhauls in India’s indirect tax system.
The revised GST structure, effective September 22, 2025, introduces major rate cuts on essential goods and services, making many daily-use items cheaper, while a few categories face higher taxation.
GST 2.0: What Becomes Cheaper
The new GST rates aim to provide relief to households, businesses, and consumers across various sectors.
1. Food and Daily Essentials
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Milk and dairy products: UHT milk will now be tax-free, while condensed milk, butter, ghee, paneer, and cheese have been reduced from 12% to 5% or nil.
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Staple foods: Malt, starches, pasta, cornflakes, biscuits, chocolates, and cocoa products now fall under the 5% GST slab, down from 12–18%.
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Dry fruits and nuts: Almonds, pistachios, hazelnuts, cashews, and dates have moved from 12% to 5%.
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Sugar and confectionery: Refined sugar, sugar syrups, toffees, candies, and confectionery products are now taxed at 5%.
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Packaged foods: Vegetable oils, edible spreads, sausages, meat preparations, fish products, and malt extract-based packaged foods now attract just 5%.
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Namkeens and snacks: Popular snacks like bhujia, mixture, chabena, and similar items are down from 18% to 5%.
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Packaged waters: Natural and mineral water without added sugar or flavours has been reduced from 18% to 5%.
2. Agriculture and Fertilisers
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Fertilisers: GST on fertilisers has been reduced from 12% and 18% to just 5%.
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Agricultural inputs: Seeds, crop nutrients, and select farming essentials are now taxed at 5%.
3. Healthcare and Education
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Medical products: Life-saving drugs, essential health products, and certain medical devices now fall under the 5% or nil tax bracket.
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Educational materials: Books, learning aids, and other educational services have moved from 5–12% GST to nil or 5%, reducing costs for students.
4. Consumer Goods
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Electronics: Entry-level appliances and mass-use electronics now attract 18% GST, down from 28%.
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Footwear and textiles: GST reduced from 12% to 5%, making them more affordable.
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Paper products: Certain paper grades are now tax-free.
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Personal care: Hair oil, shampoo, dental floss, and toothpaste now fall under the 5% slab, down from 18%.
5. Auto Sector
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Small cars now attract 18% GST, down from 28%.
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Motorcycles up to 350cc are reduced to 18%, from 28%.
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GST on electric vehicles remains unchanged at 5%.
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Car parts are now taxed uniformly at 18%.
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Luxury cars and high-end motorcycles remain at 40% GST, with no additional cess.
6. Other Sectors
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Renewable energy devices: GST cut from 12% to 5%.
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Construction materials: Key inputs used in housing and infrastructure are reduced from 12% to 5%.
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Sports goods and toys: Now taxed at 5%, down from 12%.
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Leather, wood, and handicrafts: Brought under the 5% slab, boosting affordability and demand.
GST 2.0: What Becomes Costlier
While GST 2.0 offers significant relief, a few categories continue to remain under higher taxation.
1. Sin and Luxury Goods
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Products like pan masala, gutkha, cigarettes, chewing tobacco, zarda, and bidi remain under high GST rates, along with the compensation cess, until pending cess-linked loans are repaid.
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The valuation of these products has shifted to Retail Sale Price (RSP) instead of transaction value, ensuring stricter compliance.
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A new 40% GST slab is applicable to sin goods, aerated beverages, and luxury products such as premium liquor, high-end cars, and imported luxury sedans.
2. Energy and Fuels
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Coal, which was previously taxed at 5%, will now attract 18% GST, impacting coal-based industries and power generation costs.
3. Services Sector
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Restaurants operating within “specified premises” will no longer qualify for the 18% with ITC benefit, leading to higher bills for premium dining.
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Certain lottery services and intermediary operations will face revised valuation rules, keeping their tax liability intact or higher.
Key Takeaway
The introduction of GST 2.0 marks a major shift in India’s indirect tax landscape. While a wide range of goods and services — from groceries and fertilisers to electronics, footwear, and renewable energy products — will become more affordable, high-end luxury items, sin goods, and coal-based products remain under heavier taxation.
For households, businesses, and consumers, these changes are expected to bring relief in essential spending while maintaining strict taxation on non-essential and luxury products.
by Jobuza Team | Sep 8, 2025 | BLOG, Trending News
GST Overhaul 2025: New GST Rules From September 22 — Full Guide
New GST Rules From September 22 : The GST Council has announced one of the biggest reforms since the introduction of the Goods and Services Tax in India. Starting September 22, 2025, the country will switch to a simpler GST structure with just two main slabs — 5% and 18%, plus a special 40% slab for luxury and sin goods.
Everyday essentials like milk, paneer, roti, and pizza bread are exempted. Insurance policies are now tax-free, and prices of construction materials, household items, and farming equipment will come down.
This guide explains all the important changes in clear and simple language.
When Will the New GST Rates Start?
The new GST rates will be effective from September 22, 2025, across India.
Exception: Tobacco products and gutkha will continue under the old GST rates until further notice.
New GST Slabs at a Glance
From September 22, GST will follow three categories:
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5% Slab → Essential goods, basic services, agriculture items
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18% Slab → Consumer goods, electronics, travel, telecom, banking, etc.
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40% Slab → Luxury and sin goods such as high-end cars, SUVs, casinos, betting, aerated drinks, and alcohol substitutes
Essential Food Items — Tax-Free
Good news for households! Everyday food items remain GST-exempt:
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Milk and paneer
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Roti, chapatti, and pizza bread
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Unbranded staples like rice and wheat
Insurance Premiums Are Now GST-Free
All life and health insurance policies are completely tax-free from September 22. This includes:
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Term insurance
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ULIPs
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Family health policies
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Senior citizen plans
Medicines and Healthcare Under GST
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Medicines → Now taxed at 5%
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Medical devices → Reduced to 5% to make healthcare cheaper
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Hospital services → Basic hospital services stay exempt, but certain value-added services may attract 18% GST
GST on Vehicles and Automobiles
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Small cars → Up to 1200cc petrol/LPG/CNG or 1500cc diesel → 18% GST
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Luxury cars & SUVs → 40% GST
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Motorcycles → Up to 350cc → 18%, above 350cc → 40%
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Buses and trucks → 18% GST (reduced from earlier rates)
Farming and Agricultural Equipment
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Agricultural machinery → 5% GST on items like sprinklers, drip systems, and harvesters
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Tractors → Not exempt, but taxed at lower rates to maintain input tax credit
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Fertilizers → 5% GST
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Seeds → Exempt from GST
GST on Common Household Items
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Soaps, shampoos, talcum powder → 5%
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Toothpaste, toothbrushes, dental floss → 5%
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Sanitary napkins → Exempt
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Packaged snacks, biscuits, chocolates → 18%
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Edible oils → 5%
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Bottled drinking water → 18%
GST on Electronics and Technology
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TVs, ACs, dishwashers, and refrigerators → 18%
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Mobile bills and internet services → 18%
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Software, OTT subscriptions, and cloud services → 18%
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IT consultancy and digital services → 18%
Hotels, Travel, and Entertainment
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Hotels → Rooms up to ₹7,500/night → 5%, above ₹7,500 → 18%
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Air travel → Economy class 5%, business class 18%
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Rail and bus fares → 5%
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Tour packages → 5% GST
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Cinema tickets → Up to ₹250 → 5%, above ₹250 → 18%
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Casinos, betting, and IPL tickets → 40% GST
GST on E-commerce and Digital Platforms
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Online products and services → Taxed at the same rates as offline
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Digital streaming, gaming, and subscriptions → 18%
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E-commerce platforms must collect and pay GST on behalf of sellers
Real Estate and Construction
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Under-construction flats → 5% GST (no ITC)
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Affordable housing projects → Continue at concessional rates
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Ready-to-move flats and resale properties → Outside GST
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Stamp duty and registration fees → Unchanged
Energy, Fuel, and Utilities
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Domestic LPG → 5% GST
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Commercial LPG → 18% GST
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Electricity → Exempt
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Renewable energy equipment → 5% GST
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Petrol, diesel, and natural gas → Not under GST (continue under VAT & excise)
Key Highlights of GST Overhaul 2025
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Simplified two-slab GST structure: 5% & 18%
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Luxury and sin goods taxed at 40%
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Insurance premiums are completely tax-free
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Everyday essentials remain GST-exempt
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Medicines and medical devices become cheaper
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Digital services taxed uniformly at 18%
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Travel, hotels, and entertainment see reduced rates in many cases
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GST Overhaul 2025: New GST Rules & Rates Effective September 22
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From September 22, 2025, India adopts a simplified GST structure with 5%, 18%, and 40% slabs. Get the full list of new GST rates, exempted items, and their impact on food, travel, insurance, real estate, and e-commerce.
